Gold steadies after the recent sell-off
The recent slide in the price of gold has taken a pause as investors look for gold to reverse the decline seen over the past month. Gold had been on an 8 day run of consecutive losses, something not seen since 2009. The US dollar strength has been holding gold back, however the US dollar fell after weaker than expected Retail Sales in the US for February which saw demand for gold increase. The US dollar had been going from strength to strength so it was much needed reversal of the current US dollar trend. The US dollar had set 2 weeks of consecutive gains against the Euro before today.
Gold rallied to a session high of US$1,166oz before easing back during a strong session for US equities with the Dow Jones finishing up nearly 1.5%. Gold is currently trading at US$1,154oz.
Silver is trading flat at US$15.58oz. Platinum continues to come under pressure, is currently trading at US$1,116/oz after trading below US$1,110oz.
For more information visit Bullion Index .
The recent slide in the price of gold has taken a pause as investors look for gold to reverse the decline seen over the past month. Gold had been on an 8 day run of consecutive losses, something not seen since 2009. The US dollar strength has been holding gold back, however the US dollar fell after weaker than expected Retail Sales in the US for February which saw demand for gold increase. The US dollar had been going from strength to strength so it was much needed reversal of the current US dollar trend. The US dollar had set 2 weeks of consecutive gains against the Euro before today.
Gold rallied to a session high of US$1,166oz before easing back during a strong session for US equities with the Dow Jones finishing up nearly 1.5%. Gold is currently trading at US$1,154oz.
Silver is trading flat at US$15.58oz. Platinum continues to come under pressure, is currently trading at US$1,116/oz after trading below US$1,110oz.
For more information visit Bullion Index .