CME Group Inc.’s Comex halted trading in December gold futures for about 20 seconds today at 6:26:41 a.m. New York time, said Damon Leavell, a spokesman for the exchange.
Gold futures capped the longest slump in three months as global equities rebounded, reducing demand for the metal as an alternative asset.
Gold gained for the third straight session after factory production in the U.S. rose less than forecast, reviving prospects for an extension of economic stimulus by the Federal Reserve.
Copper futures fell the most in 12 weeks after surging interest rates eroded the outlook for demand in China, the world’s biggest user of industrial metals.
Gold futures rose for the third time in four sessions on speculation that the Federal Reserve will delay scaling back the pace of monetary stimulus, increasing demand of the metal as a store of value.
Copper futures rose for the third straight session after imports jumped to an 18-month high in China, the world’s biggest user of the metal.
Gold and silver futures fell the most in two months as the U.S. faced opposition from Russia on a military strike against Syria, eroding demand for a haven. Platinum and palladium posted the biggest declines in 10 weeks.
CME Group Inc.’s Comex halted trading in December gold futures for about 10 seconds today at 8:42 a.m. New York time, said Damon Leavell, a spokesman for the exchange.
Gold fell in New York, capping a second straight weekly loss, as moves by China to fight inflation and slow growth eroded demand for precious metals and raw materials.
Gold fell for the third straight session on concern that the Federal Reserve will slow the pace of U.S. fiscal stimulus, eroding demand for the metal as a store of value.
"We are seeing continued liquidation in gold."
- Adam Klopfenstein on Nov 20, 2013