Fundamental Forecast for Gold: Bullish
- Gold Price Slammed Lower; July Low Provides Support on the Day
- GOLD: Just How Important is this Move?
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Gold prices retreated this week with the precious metal off by more than 1% to trade at 1090 ahead of the New York close on Friday. The pullback comes amid extreme volatility in broader risk assets with the major U.S. equity indices down nearly 9% since the start of 2016. Indeed gold seems to have regained its haven status in the near-term as traders seek shelter from the ongoing market turmoil and although prices were lower this week, bullion is still 2.74% in the black for 2016.