Negative U.S. Data Drags Gold to 10-Month Low

Reuters reported that gold slid to a 10-month low on Thursday as investors were selling to cover sizeable equity losses.

As quoted in the market report:

The environment for gold is pretty bearish now. I think if gold tests the lower trend channel, it has the potential to drop to the $1,530 level,” said Joyce Liu, an investment analyst at Phillip Futures in Singapore.

To view the whole Reuters report, click here.