Fed tests gold upleg
Gold’s outlook and fundamentals remain really bullish.
Gold prices dived Tuesday to 1,684/oz at 12:15 ET as fiscal cliff talks continued ahead of the holiday week. The dip represented the lowest price reached by the precious metal in the last three and a half months.
With only 14 days until the end of 2012, analysts believe trading could be slowing for the precious metal from now into the New Year.
Gold mining stocks were mostly lower on Tuesday. Shares of Yamana Gold (TSX:YRI, NYSE:AUY) were shedding 2.4%, while big players such as Barrick Gold (TSX, NYSE:ABX) was losing 1.3%, and Kinross Gold (TSX:K, NYSE:KGC) was down 1.2%.
Comments
ed
good call!