Gold stays in retreat mode, down 1% on the day ...Middle East

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The recent geopolitical tensions was a good reason for stocks to come off the boil. And now that the fears are abating, it is also providing a good reason for gold to also let out some of the steam. Gold made some attempts to top $2,400 earlier this month but failed to see a daily close above the key level. And now, price is starting to feel exhausted as it falls back to $2,300 on the day.It has been quite the run for gold over the last two months, having gained by more than 20% at one point. One can easily make an argument of price running up too high, too fast. And with that, comes the correction/retracement phase. That might be where we are at now.The near-term chart already took a turn i

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Last updated : 23 April 2024 clock 09:57 AM

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Gold stays in retreat mode, down 1% on the day ...Middle East

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