No Relief For Gold

Gold shows little resemblance to its safe haven status during the ongoing stock market turmoil as it trades 13% below YTD high. The precious metal is erasing Monday’s bounce today and trades back below the $1,500 mark. Low from yesterday at $1,451.50 is the key level to watch.

Gold resumed its downward move after yesterday’s bounce. Precious metal broke below $1,500 handle today and continues to drop.

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