Gold moved lower for a second day Tuesday as investors shook off trade worries, with appetite for riskier assets boosted by additional efforts by China to stoke its economy.
“Trade and tariff talks have distorted gold prices, as misunderstood gold” reacted to the Trump’s administration decision to shelve tariffs against Mexico, said George Gero, managing director at RBC Wealth Management.
Meanwhile, “Brexit problems escalate, and China-U.S. talks have question marks and traders await [Group of 20] talks later this month, he said. So “gold still looks range bound” in the $1,315 to $1,350 area “until we see more news.”
