| Gold traded sideways on Tuesday morning after European stocks opened higher and the dollar recovered slightly despite Chinese equities extending losses. The spot gold price was last at $1,150.90/1,151.20 per ounce, little changed from the previous close. Trade has ranged narrowly from $1,146 to $1,156.90 so far.
The yellow metal peaked at its highest in seven weeks on Monday at $1,170 amid a global sell-off in equity markets that was triggered by renewed fears about the slowing Chinese economy. “Gold should continue to hold its value during the current market turbulence, however a material surge higher is unlikely as participants find liquidity by selling all asset classes, including precious metals,” MKS said in a note...............................................Full Article: Source
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