PANews reported on October 21st that gold prices edged lower on Tuesday as investors took profits after hitting a new high in the previous trading day. Tim Waterer, chief market analyst at KCM Trade, said, "Profit-taking and weakening safe-haven inflows have combined to weaken gold's advantage today... Any pullback in gold would be seen as a buying opportunity, while the Federal Reserve remains on track to cut interest rates. If the US CPI data released later this week doesn't bring any unpleasant upside surprises, the current gold rally has further room to run."PANews reported on October 21st that gold prices edged lower on Tuesday as investors took profits after hitting a new high in the previous trading day. Tim Waterer, chief market analyst at KCM Trade, said, "Profit-taking and weakening safe-haven inflows have combined to weaken gold's advantage today... Any pullback in gold would be seen as a buying opportunity, while the Federal Reserve remains on track to cut interest rates. If the US CPI data released later this week doesn't bring any unpleasant upside surprises, the current gold rally has further room to run."
Gold's record rally pauses as investors take profits
PANews reported on October 21st that gold prices edged lower on Tuesday as investors took profits after hitting a new high in the previous trading day. Tim Waterer, chief market analyst at KCM Trade, said, "Profit-taking and weakening safe-haven inflows have combined to weaken gold's advantage today... Any pullback in gold would be seen as a buying opportunity, while the Federal Reserve remains on track to cut interest rates. If the US CPI data released later this week doesn't bring any unpleasant upside surprises, the current gold rally has further room to run."
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