Gold retreated to a six-week low of $1,186.70 an ounce in London today. The price for immediate delivery traded at its lowest since May 24th as investors took profits and moved into the US dollar.
Gold Ã¢â‚¬Å“is looking increasingly bearish and we could see even more technical selling and profit-taking,Ã¢â‚¬Â said Andrey Kryuchenkov, an analyst at VTB Capital in London. Still, Ã¢â‚¬Å“the downside will remain very limited as long as economic uncertainty prevails.Ã¢â‚¬Â
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