SINGAPORE . By late afternoon , gold prices traded fell . This afternoon , the price of gold for fast delivery fell by 0.6 % to U.S. $ 1614.88 per troy ounce. At 15:13 pm Singapore time , gold prices for fast delivery at the level of U.S. $ 1619.15 per troy ounce.
On 1 June, gold prices had surged 4.1 % . This is the highest increase since January 2009.
Meanwhile , the price of gold contract for August delivery rose 0.5 % to U.S. $ 1629.70 per troy ounce on the Comex in New York .
The decline in gold prices today after investors sold gold and prefer to hold cash funds after the stock market and other commodity prices slumped .
" After being up high , it is natural for investors to take action to seek profits in other markets . However , gold is trying to maintain its status as a safe haven as the strengthening U.S. dollar against other currencies , including euro . I see , the price gold will continue to pressure , "said Sun Yonggang , an analyst at Everbright Futures Co.(Kontan.co.id)
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