Against the backdrop of a strong stock market trend, gold, which was once very popular earlier this year, is gradually losing its appeal.
As of the close on August 12, U.S. time, the main COMEX gold futures contract on the New York Mercantile Exchange fell below the $3400 mark, reporting at $3399/ounce. On the previous day, August 11, the near-term COMEX gold futures contract plummeted nearly 2.5%, marking the largest decline since May. Prior to this, the settlement price of COMEX gold futures had maintained above $3400/ounce throughout August. As of 16:30 Beijing time on August 13, its price slightly adjusted to just above $3400/ounce. Moreover, the price of spot gold in London continued to decline, closing at $3348.02/ounce as of the close on August 12, U.S. time, which is a 1.4% drop from the August high. As of 16:30 Beijing time on August 13, its price reported at