Gold futures posted their largest intraday decline of the May 27 session, falling 1.1% to settle at $4,463.50 an ounce. The precious metal swung between a high of $4,561.20 and a low of $4,459.50 on volume of 84,059 contracts.
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Gold futures fall 1.1% in session's steepest intraday decline
Gold futures fell 1.1% to $4,463.50 an ounce on May 27, posting the largest intraday decline of the session.
COMEX gold for June delivery traded between $4,561.20 and $4,459.50 before settling near the session low, according to exchange data. The contract opened at $4,507.40, rallied to the intraday high of $4,561.20, then reversed $101.70 to the low before closing at $4,463.50 — just $4.00 above the session trough.
Volume reached 84,059 contracts as the selloff accelerated in the afternoon session. The $4,459.50 low marked the deepest intraday trough for the session, with the close at $4,463.50 representing a $43.70 decline from the high and a $43.90 decline from the open. The contract settled in the bottom 4% of its daily range, signaling persistent selling pressure into the close.
The 1.06% drop comes as gold traders monitor the dollar and Treasury yields for directional cues. The May 30 US core personal consumption expenditures report is the next catalyst for the dollar-denominated metal, with a stronger reading potentially adding further pressure on gold prices. Silver and other precious metals also faced selling pressure during the session, tracking gold's move lower.
This article is for informational purposes only and does not constitute investment advice.
