Gold Price News and Forecast: XAU/USD trades just above $1600 mark
|Gold trades with modest losses, just above $1600 mark
Gold edged lower for the second straight session on Thursday, with bears awaiting a sustained break below the $1600 round-figure mark.
The precious metal extended the previous day's intraday pullback from two-week tops and was being weighed down by the latest optimism over the passage of a massive $2 trillion US economic relief package. However, a combination of factors extended some support to the commodity and helped limit losses. Read more...
Gold Futures: Downside seen as shallow
In light of preliminary figures for Gold futures markets from CME Group, traders trimmed their open interest positions for the second day in a row, this time by nearly 3.7K contracts. Volume, in the same line, reversed two straight builds and shrink by around 245.3K contracts. Read more…
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.