Gold inches lower as markets begin to wind-down for holiday break
Gold inches lower as markets begin to wind-down for holiday break by Michael J Kosares for Gold USA
Gold inched lower in quiet overnight and early US trading as financial markets began to wind-down for the holiday break. The yellow metal is down $2 on the day at $1474. Silver is down 6¢ at $16.95. Precious metals are on the back burner at the moment as hope for reconciliation between China and the United States on trade and the positive effects of the Fed’s money-pumping operations now dominate investor thinking. At the same time, there is still a well-chronicled undercurrent of uncertainty building beneath the surface with respect to both of those market drivers. In short, with ultimate outcome still up in the air, gold is caught in a kind of limbo at the moment seesawing on either side of the $1475 mark and awaiting a clearer sign of where we might be headed next.