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Gold Mining Stocks Retreat on Signs Israel-Iran Tensions Ease

From bnnbloomberg.ca

Gold mining stocks are suffering their worst trading session in two months as the price of bullion drops amid signs of easing geopolitical tensions between Israel and Iran. The pullback in the precious metal follows a run of five weekly gains that set record highs along the way, providing a tailwind for mining stocks along the way, on rising demand for havens. That momentum hit a wall Monday after Iran downplayed recent strikes by Israel, saying the country received “the necessary response at this stage.” The previous week’s 2% gain in gold prices quickly headed lower “after Iran downplayed the strikes as limited, ... (full story)

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  • Category: Fundamental Analysis