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Gold takes hit as oil prices rebound
Earlier this morning, following an update here, Gold rose and that rise saw it peak just above $4,080, from an earlier European session low, at $4,043.97. Well, it was already tracking lower again, when it short while ago it seems someone unloaded again and that saw the metal melt rapidly below $4,050 again.
There is no news and no news related catalyst for the slide, but it seems like the push higher in Oil prices over the past couple of hours tipped the balance against gold. As we said earlier today, the metal remains at risk unless there is a deeper fall back in oil and you can clearly see how both commodities continue to track each other loosely in opposing directions. Gold is right now at $4,054.40
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Gold takes hit as oil prices rebound
Earlier this morning, following an update here, Gold rose and that rise saw it peak just above $4,080, from an earlier European session low, at $4,043...