Gold Futures Steadying After Sell-Off

Gold Futures Steadying After Sell-Off

Gold futures were level astatine $3,298.90 a troy ounce connected a stronger U.S. dollar and signs of easing U.S.-China tensions.

Gold prices slid connected Friday aft concisely breaching $3,500/oz earlier successful the week. The astir absorbing constituent for markets is that buying request from Asia appears to person dried up, astatine slightest for the clip being, Pepperstone's Michael Brown said successful a note.

This could suggest much downside unit successful the adjacent term, which could beryllium further exacerbated by immoderate investors with weaker agelong positions bailing retired the incredibly crowded golden trade, Brown wrote.