| Gold futures closed at $1,145.30 per troy ounce Wednesday, down a mere 0.1% on the day. While that does not sound like bad news, it could prove to be if bullion does not soon break through the $1,150 per ounce area.
Dragging on the gold market, volatility is beginning to ease after markets try to recover from the swift correction – gold is seen as a safe-haven asset that provides a good store of wealth during tumultuous market conditions. Additionally, the U.S. dollar is beginning to strengthen against foreign currencies – gold is priced in USD, so further buying becomes pricier for foreign investors..............................................Full Article: Source
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