Gold, silver aim to erase previous session’s losses

In electronic trading on Wednesday, gold and silver futures continue to climb, winning back losses logged in the previous trading session.

Gold for June delivery climbed so far $13.40, or 0.95%, to $1,426.70 an ounce in Asian trading, erasing Tuesday’s decline of $12.40, or 0.9%. Silver also advances, but far less aggressive. It trades at around $22.95 per ounce, up 0.56% from the previous close of $22.82.

The gold’s price decline Tuesday was the first in four sessions. The fall was caused by disappointing data on manufacturing data in China, a rally in equities and strengthening U.S. dollar.

• Read more: “Fall in the gold price was triggered by speculative traders,” WGC

In April so far, gold prices are on track for a roughly 12% drop. Market analysts are pointing to declines in the yellow metal’s holding among exchange-traded funds and revised on the downside gold-price forecasts by major investment banks as factors behind the recent selloff.