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1 week ago
15
Gold Under Pressure Amid Selloffs
By
Fabiana Negrinochoa, Dow Jones Newswires
Gold is nether unit connected aggregate fronts, with organization selloffs pushing it down astir 3% since Monday, said Dilin Wu astatine Pepperstone.
"The trading communicative has shifted sharply from risk-off hedging to an 'America First' stance," the strategist said, adding that the SPDR Gold Trust and different large institutions person been unloading holdings since November, portion cardinal banks person slowed golden purchases.
That's making gold's near-term outlook look bleak. If U.S. CPI and retail income this week bushed views, the USD Index could tighten the screws further, Wu added.
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