Gold falls as stock market rebounds
MG News | March 03, 2022 at 02:31 PM GMT+05:00
March 03, 2022: Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday as stock market rebounded.
The most active gold contract for April delivery fell 21.5 U.S. dollars, or 1.11 percent, to close at 1,922.3 dollars per ounce.
All three major U.S. stock market indexes rebounded sharply, dampening gold.
Gold was under additional pressure as the Automated Data Processing Inc. employment report showed 475,000 new jobs created during February. Analysts note this was better than expected.
Silver for May delivery fell 35.1 cents, or 1.37 percent, to close at 25.19 dollars per ounce. Platinum for April delivery rose 16.1 dollars, or 1.53 percent, to close at 1,068 dollars per ounce.
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