Gold falls amid Wall St rally


Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

Gold has nudged lower as a stronger US equities market and shifting expectations for US interest rates hemmed in traders’ appetite for the haven asset.

Gold and stocks often move in opposite directions as some traders view the precious metal as a store of value, while stocks are seen as a bet on stronger economic growth.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

Gold for April delivery, the most active contract, fell $US1. 80, or 0. 1 per cent, to settle at $US1,262. 70 a troy ounce on the Comex division of the New York Mercantile Exchange on Thursday.

“People were pretty headstrong that rate increases were coming by June, then it got moved to October, and now people are getting a lot of mixed signals about the timing of it,” said RJO Futures senior commodities broker Bob Haberkorn.

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Read more here: Business Spectator


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