The World Gold Price Drops Sharply, The Price Makes You Shake

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1NEWS – World gold prices on the COMEX division of the New York Mercantile Exchange slumped on Tuesday (19/4) local time.

This pressure followed the strengthening of the United States (US) dollar.

Reporting from Xinhua, Wednesday (20/4), the most active gold contract for June delivery fell USD 27.4 or 1.38 percent to USD 1,959 per ounce.

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Gold prices posted gains in six of the previous seven sessions.

This is in line with growing geopolitical risks and global growth concerns.

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The US Commerce Department reported US housing starts increased 0.3 percent year on year (yoy) to 1.793 million units in March.

In addition, building permits edged up on an annual basis to 1.87 million.

READ ALSO: Unaffected by the US Dollar, World Gold Prices Still Shine

This puts additional pressure on gold.

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