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CNBC reported that gold prices underwent a choppy Tuesday trading session, but closed slightly high, closing at $1,766.
CNBC reported that gold prices underwent a choppy Tuesday trading session, but closed slightly high, closing at $1,766.
As quoted in the market news:
Gold is still 4 percent higher for September following a sharp rally on hopes the central banks will keep the credit flowing by offering bullion-friendly stimulus.
Phillip Streible, senior commodities broker at futures brokerage R.J. O’Brien stated:
“Gold is likely to continue to consolidate. Maybe a shoe drops over in Europe and that knocks gold prices which are overbought at these levels.”
