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Gold Dips on Profit-Taking, Rate Expectations Cap Losses


Thursday, 23 January 2020 19:30 WIB

GOLDEMAS


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Gold eased on Thursday as investors booked profits from recent rallies but held above the $1,550 technical support level on continuing low interest rates and a drop in risk appetite.

Spot gold was down 0.3% at $1,554.24 an ounce. U.S. gold futures fell 0.2% to $1,553.80.

Gold broke above the psychological barrier of $1,500 an ounce in late December on uncertainty surrounding the U.S.-China trade deal and the global economy.

Bullion climbed further to a near-seven-year peak of $1,610.90 on Jan. 8 after an escalation in U.S.-Iran tensions and has held above $1,550 for the most part ever since.

Source : Reuters


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