The fear factor across markets is like manna from heaven for gold bugs.
Both bullion and futures of the yellow metal breached the key $1,580 per ounce resistance on Monday before consolidating gains, although analysts said the $1,600 target seemed well within the market™s reach.
Gold futures for February delivery on New York™s COMEX settled up $5.50, or 0.4%, at $1,577.40 per ounce. It earlier reached $1,588.10, a peak since Jan. 8.
Spot gold, which tracks live trades in bullion, was up...
Gold snapped a four-day rally on Tuesday as investors returned to give life to stocks and other risk assets crushed in the aftermath of the coronavirus crisis.
But the yellow metal™s retreat was, nevertheless, modest as markets awaited the outcome of the Federal Reserve™s monthly policy meeting and what that could mean for U.S. rates.
Gold futures for February delivery on New York™s COMEX settled down $7.60, or 0.5%, at $1,569.80 per ounce. It reached a three-week high of $1,588.10 on...