Gold futures on Thursday pulled back from a nearly two-week high as global stock markets bounced back and investors worried that the metals market may fall victim to a selloff by traders looking for cash to cover losses.
“While gold is solid around $1,100, the dealers are still marking prices down in fear of sellers looking for liquidity to cover margin calls,” said Julian Phillips, founder of and contributor to GoldForecaster.com. “When this fear subsides, we expect to see more vigor in the gold and silver markets.”
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