Gold Price Today: Why the Rally Is Pausing After a Huge Short-Covering Move
Photo: CaptainAltcoin
Gold is giving back part of this week’s powerful rebound , but Saxo Bank commodity strategist Ole Hansen does not yet see the move as the beginning of another major decline. Spot gold is trading around $4,060-$4,080 per ounce today after reaching roughly $4,146 on Thursday. Despite the pullback, gold remains up about 5% for the week, which puts it on track for its strongest weekly performance in more than two months. Hansen describes the latest weakness as consolidation following an aggressive short-covering rally.
Source: CaptainAltcoin
