Gold recaptures $1,680 but remains pressured below 20-day EMA

From monetamarkets.com

Gold prices took a sharp U-turn and reclaim $1,680 on Tuesday. Fundamentally, there is no major shift in the paradigm from a broader perspective, but a short-term recovery is seen in the U.S trading session. The oversold market structure amid short covering in the futures underpins the demand for the precious metal. The global stock market remained under immense selling pressure. The S&P 500 and NASDAQ recovered mildly after testing levels not seen in more than two years. The move followed after the Federal Reserve Bank of New York’s monthly survey of Consumer Expectations, which showed that the US consumer’s ... (full story)