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Gold holds $3,300 but could be vulnerable on positive US-China trade news
The gold market continues to hold support above $3,300 an ounce, but shifting sentiment in the global economy is taking its toll. According to some analysts, the precious metal is looking a little exhausted. Although gold is ending the week down sharply from Tuesday’s high above $3,400 an ounce, it has managed to recover the losses seen the previous week, when prices fell to support at $3,200 an ounce. Spot gold last traded at $3,336.84 an ounce, up more than 3% from last Friday. James Stanley, Senior Market Strategist at Forex.com, said he expects gold prices to remain elevated, even if the upside is limited. ... (full story)
