Gold Falls From 2 Week High

January 21, 2016 Share Print 0

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.”

via MarketWatch

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.