Investing.com – Gold’s “golden touch” hasn’t deserted it, apparently.
Fears that bulls were all wrong about their “higher and higher” calls for the shiny metal were disproved Tuesday as futures on Comex broke above $2,020 an ounce the first time in a week.
But before the safe-haven crowd could really celebrate, the market fell $35 intraday, reaching a session low of $1,985. It briefly revived memories of last week’s “Black Tuesday” drop of 5% and swing of nearly $130 on the day.
Yet, the day still ended well for gold bugs as futures and spot prices of the metal for immediate delivery rose about 1% each, adding to Monday’s gain of 2% or more.
Benchmark December gold futures on Comex settled up $14.40, or 0.7%, at $2,013.10 after an intraday peak at $2,023.90. Read more…..
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