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Gold edges up on dollar weakness, but strength in the stock market on vaccine hopes caps gain

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Gold posted a gain on Wednesday, with the dollar-denominated metal finding some support from weakness in the U.S. dollar, but strength in global stock markets on optimism surrounding a coronavirus vaccine kept a cap on the price rise.

Better-than-expected quarterly results from U.S. corporations also helped to diminish the traditional haven appeal for bullion.

Bullish commodity investors make the case that gold’s uptrend remains intact but warn that its recent runup above the psychologically important $1,800-an-ounce level may be giving way to a pause.

“Gold is wavering around the $1,800 mark in a manner that could be viewed as both bullish and bearish,…



Source marketwatch.com

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