OTCQX:BGMZF - Post by User
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halcroon Apr 04, 2016 1:00pm
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RE:A warning for Gold Bugs: This rally won't last
RE:A warning for Gold Bugs: This rally won't lastGold drops as dollar traders position for higher rates
Published: Apr 4, 2016
Gold falls for a second straight session Monday, unable to extend a strong first-quarter performance as dollar and stock strength sap demand for the shiny haven asset.
Gold prices are pressured by better risk appetite in the world market place recently and by a firmer U.S. dollar index on this day, said Jim Wyckoff, analyst with Kitco.
June gold GCM6, -0.43% trades down $3.80, or 0.3%, at $1,219.70 an ounce, falling in back-to-back sessions after prices ended the first quarter up 16.4%the best gain in a calendar quarter since 1986. The dollar index DXY, -0.13% which measures the U.S. currencys performance against six other currencies, is up 0.1%, at 94.77
https://www.marketwatch.com/story/gold-drops-as-dollar-traders-position-for-higher-rates-2016-04-04