CheatSheet – On Thursday, gold futures for June delivery, the most active contract, declined $9.30 to close at $1,386.90 per ounce, while silver futures for July traded flat to finish at $22.66. Gold has now closed lower for six consecutive sessions.
Both precious metals continue to drift lower as sentiment remains weak. Credit Suisse recently said gold will trade down to $1,100 an ounce within a year, and sink below $1,000 an once within five years.
