{"id":1186560,"date":"2020-05-26T14:42:38","date_gmt":"2020-05-26T19:42:38","guid":{"rendered":"https:\/\/www.mining.com\/?p=1025077"},"modified":"2020-05-26T14:42:38","modified_gmt":"2020-05-26T19:42:38","slug":"gold-price-dips-as-investors-pile-into-equities","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1186560","title":{"rendered":"Gold price dips as investors pile into equities"},"content":{"rendered":"

Gold fell for the third time over the last four sessions on Tuesday as economies worldwide further eased lockdown restrictions, strengthening the short-term economic outlook and boosting investor confidence in riskier assets.<\/p>\n

Spot gold declined 1.1% to a near two-weak low of $1,708.28 an ounce by 3:30 pm EST. Gold futures were down 1.8% to $1,703.40 on the Comex in New York.<\/p>\n

Meanwhile, US stocks surged to a 9-week high on heightened investor optimism about business restarts, with the S&P 500 back above 3,000 for the first time since March.<\/p>\n

\u201cThere is a risk-on tone in the market, driving the reversal of (gold\u2019s) safe-haven flows,\u201d said<\/a> Daniel Ghali, commodity strategist at TD Securities, told Reuters.<\/p>\n

\u201cA breakdown below $1,700 could crack open the doors towards $1,680 (for gold),\u201d said FXTM analyst Lukman Otunuga. \u201cNevertheless, the downside is likely to be cushioned by trade woes, disappointing economic data and growth fears.\u201d<\/p>\n

Ghali believes “investment demand will continue to strengthen as the US Federal Reserve’s stimulus will remain in place for quite a substantive amount of time.”<\/p>\n

The price of gold, which normally serves as a safe store of value during times of political and financial uncertainty, recently rose to a new seven-year high<\/a> before fears of a prolonged recession were eased.<\/p>\n

(With files from Reuters)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Gold price fell to a two-week low, while the US stock market hit a nine-week high.<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2849,949,369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1186560"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1186560"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1186560\/revisions"}],"predecessor-version":[{"id":1186562,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1186560\/revisions\/1186562"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1186560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1186560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1186560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}