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Gold skids more than 3% on tariff relief. Is it time to sell?
Gold prices suffered a hefty decline Monday, losing more than 3% as trade tensions ease, but some strategists say that it's not time yet to take profits - and that the precious metal may still rally to fresh record highs. "The progress made in trade talks between the U.S. and China over the weekend significantly dials back trade tensions, stoking risk appetite and sapping gold's haven bid," Peter Grant, vice president and senior metals strategist at Zaner Metals, told MarketWatch. The market, however, will want to see additional progress toward trade deals with China and other major trading partners, so the downside ... (full story)
