Gold players keep faith despite trade truce-induced correction
Gold prices have fallen almost 10% from a record high just above $3 500/oz in April as a de-escalation in US-China trade tensions punctured momentum, but analysts are sticking with a bullish outlook due to strong underlying support for the metal. Spot gold XAU= was trading around $3,180 an ounce on Friday, leaving prices on track for their worst week in six months.
Gold prices have fallen almost 10% from a record high just above $3 500/oz in April as a de-escalation in US-China trade tensions punctured momentum, but analysts are sticking with a bullish outlook due to strong underlying support for the metal. Spot gold XAU= was trading around $3,180 an ounce on Friday, leaving prices on track for their worst week in six months.
