07.10.2016 - Wounded gold bull market steadies after worst slump in 3 years
After the biggest swoon in gold futures prices in almost three years, the market steadied. Gold futures for December delivery slipped 0.1 per cent to US$1,268.60 an ounce at 1:46pm on the Comex in New York, after slumping 3.3 per cent on Tuesday. Prices are down 7.9 per cent since a July peak as expectations for tighter monetary policy in Europe and the US dent the appeal of the metal. "The gold bull has been given a good scare," Adam Finn, who oversees precious metals at Triland Metals and was short gold, said by phone from London. "It's not dead yet. We could drop down to US$1,172 and still see a medium-term continuation of the move higher.".............................................Full Article: Source
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