Almadar News

Gold hits the lowest level in 2019 as the outlook for the global economy improves

Gold prices fell on Thursday to the lowest level in 2019 as the outlook for the global economy improved. “The price of gold fell by 0.1 percent to $ 1272.16 an ounce after falling to $ 1270.99 an ounce earlier in the session, the lowest level since December 27,” the Reuters news agency said. The yellow metal has lost 1.4 percent of its value since the beginning of the week and is heading for the fourth consecutive weekly decline. Most markets are due to close on April 19 for Good Friday.

Among the series of positive economic indicators, data released in the US and China have eased concerns over the growth of the global economy and undermined the attractiveness of gold as a safe haven. Source