Gold price falls as investors look beyond safe-haven assets
‘The news backdrop is not conducive to rising gold prices, and is more likely to cause the correction to continue,’ Commerzbank analysts say
14 January 2020 - 14:08
Bengaluru — Gold slipped to an over one-week low on Tuesday as strength in equities markets and hopes for a smooth signing of the US-China phase 1 trade deal tarnished bullion's safe-haven appeal, while palladium rose to a record high.
Spot gold dipped 0.3% to $1,543.91/oz by 10.43am GMT. Earlier, prices fell to their lowest since January 3 at $1,535.63/oz. US gold futures dropped 0.4% to $1,544.60/oz. “As long as the stocks continue to make these record highs, there is no real need for the insurance policies you'll find in gold,” Saxo Bank analyst Ole Hansen said...
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