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Gold Snaps 4-Day Rise as Markets Take Breather From Virus


Wednesday, 29 January 2020 03:42 WIB

GOLDEMAS


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Gold snapped a four-day rally on Tuesday as investors returned to give life to stocks and other risk assets crushed in the aftermath of the coronavirus crisis.

But the yellow metal’s retreat was, nevertheless, modest as markets awaited the outcome of the Federal Reserve’s monthly policy meeting and what that could mean for U.S. rates.

Gold futures for February delivery on New York’s COMEX settled down $7.60, or 0.5%, at $1,569.80 per ounce. It reached a three-week high of $1,588.10 on Monday.

Spot gold, which tracks live trades in bullion, was down $12.73, or 0.8%, at $1,568.92 per ounce by 2:22 PM ET (19:22 GMT). It rose to as high as $1,588.62 in the previous sessions, its highest since Jan. 8.

Source : Investing.com


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