Gold nears 3-month low as US stocks and yields slide
Business
Gold is hanging out near its lowest close in more than three months, trading at about $4,025 per ounce after dropping almost 3% in the last session.
This dip happened alongside falling US stocks and Treasury yields, as investors looked for safer places to park their money.
Justin Lin calls gold selloff liquidity-driven
Justin Lin, an analyst at Global X ETFs, says investors are selling gold to free up cash for other financial needs, a "liquidity-driven selloff."
He thinks this trend might stick around. But there's hope: Lin expects a V-shaped recovery in gold prices if interest rates drop and the dollar weakens.
For now, silver is down 0.1%, platinum dipped 0.2%, and palladium is steady.