Gold Lower On Lack Of Safe-Haven Bid, But Remain Sensitive To Geopolitics

London (Mar 27)  Geopolitical tensions in the Middle East are not attracting much attention Friday, causing gold prices to drop from a lack of safe-haven flows, and analysts at HSBC say they are not surprised that prices have come back down below $1,200 an ounce. “Gold historically rallies during bouts of rising geopolitical tensions but these gains tend to be very fast moving and can be easily given back once the market shifts its focus away from the issues. However, for the time being, gold is likely to remain sensitive to Middle East developments, in our view,” they say.

Source: KitcoNews