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Gold futures give back most of their gain from a day earlier


Wednesday, 26 February 2020 01:51 WIB

GOLDEMAS


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Gold futures fell nearly 2% on Tuesday, with prices giving back nearly all of what they gained a day earlier.

"While economic growth concerns surrounding the coronavirus were the most recent impetus supporting gold prices, there is very little reason for gold prices to move significantly lower given the current global environment," said Jeff Klearman, portfolio manager at GraniteShares.

"Gold prices have benefited from three main factors, including heightened investor appetite for safe haven investments, continued accommodative fiscal and central bank monetary policies globally, and ongoing low inflation around the world," he said.

For now, however, prices eased back with April gold losing $26.60, or 1.6%, to settle at $1,650 an ounce after posting a gain of 1.7% on Monday.

Source : MarketWatch


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