Gold fell 4.5% last week in its biggest decline since March as investors reassessed positions after bullion retreated from a record peak of $2,072.50 scaled on Aug. 7. U.S. gold futures. gained 0.5% at $1,958.90 per ounce.
Gold does not "seem ready to resume the selloff in earnest as traders wait for FOMC meeting minutes and the fate of U.S. fiscal stimulus negotiations," said DailyFx currency strategist Ilya Spivak.
"Prices may need to reclaim a foothold above the $2,000/oz figure to suggest near-term selling pressure has been neutralized."
https://www.reuters.com/article/global-precious/precious-gold-firms-on-…
About the author
Since 1995, providing gold investors with the latest precious metals information & financial truth!
