Golds Flight To Safety Dampened By Short Term Trades

At 11.25 am CET the gold slide continued where it left off at Tuesday’s NY close, dropping to a tad above $952 an ounce before a sharp rebound to $956 an ounce 15 minutes later.

It would seem that the flight to safety that the dollar has been experiencing in the recent past has come to an end, at least for the time being, and this sentiment now seems reflected in the price of gold.

This situation, as we pointed out yesterday, is a reversal of the past experience of gold and the dollar moving in opposite directions. Read more