The Conversation (0)
Reuters reported that gold prices rose but analysts are not expecting a rally.
Reuters reported that gold prices rose but analysts are not expecting a rally.
As quoted in the market news:
Spot gold gained 0.90 percent to trade at $1,693.60 an ounce by 1432 GMT, off the four-week low of $1,665.88 hit on Monday. The precious metal has lost nearly 5 percent over this week and last.
Analyst Jesper Dannesboe said:
I wouldn’t be too confident it’s going to rally short term because risk aversion is at very high levels and when risk aversion is extremely high gold tends to fall.
