Gold edged higher on a likely technical recovery after front-month gold futures fell 2.8% overnight.
Gold remains vulnerable after hitting a seven-day low, but support near the 50-day average and Fibonacci targets suggest potential for a rebound and higher prices.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
The gold market fell in the early hours of Tuesday, as traders continue to look for the overall trend to continue. At the moment, the market is likely to see buyers when value presents itself.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Investors seeking a portfolio hedge will have two choices: gold or the U.S. dollar.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Gold fell in the morning Asian session on possible position adjustments.
Silver and platinum also pulled back in today's trading session.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Gold fell in the morning Asian session on possible position adjustments.