Gold is heading for its first monthly loss in 2017


Gold is heading for its first monthly loss in 2017

Gold prices fell to keep their first monthly loss this year as central bank officials hinted that the QE was nearing the end of the yield on bonds, which hurt the yellow metal, which is not yielding.

While gold is still up about 8 percent in the first half, it slowed in the second quarter after a strong start this year and was little changed from the end of March

Gold fell 0.3 percent in spot trade to $ 1241.41 an ounce by 1834 GMT and settled in the US futures contract for August delivery at a similar rate to $ 1242.30 an ounce.

The yellow metal lost about 2 percent in June spot trade and is down 0.6 percent in the second quarter.

Comments from central banks in the euro area, Britain and Canada this week that the era of quantitative easing is nearing an end and interest rates are on the rise.

Among other precious metals, silver rose 0.3 percent to $ 16.63 an ounce today. The metal posted the biggest drop in precious metals this quarter, down nearly 9 percent, while palladium topped the list with a 6.1 percent rise.

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