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
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.
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