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Gold falls after entering bear market territory
Monday, April 15, 2013 2:46
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After plunging 5.25% during Friday’s U.S. session, gold futures are extending those losses to start the week in Asia as traders continue to punish the yellow metal after it entered bear market territory.
On the Comex division of the New York Mercantile Exchange, gold futures for June delivery fell 0.62% to USD1,492.15 per troy ounce in Asian trading Monday. Gold prices were likely to find near-term support at USD1,478.05 a troy ounce, the low from July 1, 2011 and resistance at USD1,516.80.
