Daily Gold News: Tuesday, June 9 - Gold Gaining Ahead of Tomorrow's Fed Release

From sunshineprofits.com

The gold futures contract gained 1.31% on Monday, as it retraced some of its last week's Friday's decline following much better than expected U.S. monthly jobs data release. Global markets went risk-on and gold has sold off as a safe-haven asset. On Monday a week ago the price has reached slightly above $1,760 and Friday's daily low fell at $1,671.70. Gold continues to trade close to the bottom of its medium-term consolidation, as we can see on the daily chart: Gold is gaining 0.5% this morning, as it retraces more of its Friday's sell-off. Financial markets remain in risk-on mode, as stocks continue to hover along ... (full story)