The Traderszone Network

Published in TZ Latest News 20 July, 2015 by The TZ Newswire Staff

Gold steadies after rout, but bearish sentiment intact

Gold stabilized on Tuesday, holding just above a five-year low, but with investors still clinging to views of further price falls a day after the metal lost 4 percent. “This clearly means that the bearish sentiment for gold remains even at this juncture,” said OCBC Bank analyst Barnabas Gan. A looming increase in U.S. interest rates has been a key driver in gold’s descent along with sluggish demand in top consumers China and India.