A flow of positive US fundamentals resulted in the sell-off of the save-haven asset on Thursday, as gold lost 0.70% to near one-month lows.
On Wednesday, the precious metal was hit by optimistic inflation and growth comments from the ECB President Mario Draghi, as well as better than projected US ADP payrolls, which have negatively weighed on the safe-haven asset.
Tuesday was a positive day for commodities that are included in our review, as they all managed to increase in value.
Despite undertaking an attempt to surge considerably on Monday, the precious metal was sent back to the downside after positive US statistical data and therefore registered a slight 0.12% decrease in value.
The precious metal added just 0.18% on Friday, and along with silver (+0.28%) it used to be the most silent commodity in terms of daily changes.
Many commodities registered a sideways development during the Thursday's trading session.
Gold was the only commodity from our review that gained value yesterday, even though it added just 0.07%.
Along with the yellow metal, which plummeted by 1.6% on Tuesday, the majority of other commodities lost even greater value during the past 24 hours.
The precious metal changed only by 0.03% to the upside on Monday, while the majority of other commodities plummeted considerably.
While being the only daily outperformer on Friday, the yellow metal managed to accumulate only a 0.11% positive change.
On Thursday, Gold retreated by 0.41% and was the only daily under-performer.
Gold registered only a slight 0.16% increase in value on Wednesday and was broadly unchanged along with silver which rose just 0.05%.
Commodities traded strongly in the red in course of last trading session.
All commodities that are included in our review registered a significant plunge on Monday.
Crude oil used to put significant pressure on the benchmark S&P GSCI Index on Friday, considering its high share of contribution.
The benchmark S&P GSCI Index added just 0.07% on Thursday.
On Wednesday, many commodities continued to increase in price and prolonged their positive tendency from Tuesday.
Following exceptionally weak commodity market's performance on Monday, it erased the vast part of losses a day later, with growth posted by all commodities from our review.
On the first working day of this week, all commodities that are included in our review declined in price.
Natural gas surged 5.34% on Friday, posting the fastest jump in price during that day and overshadowing changes of other commodities.
Thursday was marked by poor performance of commodities. The benchmark index, S&P GSCI, fell as much as 2.02% yesterday.
By registering only a marginal decrease in price, some of the major commodities were on the side of losers on Wednesday.
Yesterday, market participants could observe a major advance in oil prices, which grew by 1.61% and 2.49% for Brent and Crude types of it, respectively.
On Monday of this week, both natural gas and silver gained around 1.6%, as they led the commodity market in terms of positive changes.