GOLD opened the Asian session in red

21.07.2015 / 04:08

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Gold prices dipped CE in Asia on Tuesday as the Japanese market reopened after the break.

Gold for August delivery went down by 0.74% to $ 1,098.60.

Silver for September delivery fell 0.75% to $ 14.648 per troy ounce.

Copper for delivery in September with an increase of 0.11 percent to $ 2.475 a pound.

Last week, "a series of events and trends have combined to create what looks like a perfect storm for gold," said Colin Kizinski, chief market strategist at CMC Markets. He listed some of the major reasons for the decline in gold:

- Reduced demand for gold as a refuge

- The risk of Grexit has passed for now and political tensions in the world has eased with the completion of the deal Iran and the US

- The resumption of diplomatic relations with the United States on Cuba

- The rally of the US dollar since the prospect of interest rate in the US

- The decline in gold prices still can not be stopped, but it may be soon

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GOLD opened the Asian session in red

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