Gold Bulls Say Bears Should Be Nervous as Metal's Rout Ebbs
- Price stabilizes on slowing dollar gains, easing inflation
- Bullion ‘extremely vulnerable’ to short covering: SocGen
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Beleaguered gold bulls are finally getting a rest from this year’s sell-off, and some see encouraging signs for a turnaround in the metal.
After falling for five straight months, the longest slump since 2013, gold is showing resilience, holding near $1,200 an ounce since late August and registering a small gain so far in September. The metal is getting support from signs of a sputtering rally in the greenback and indications -- albeit tentative -- of easing U.S. inflation pressures that could slow the Federal Reserve’s hand in raising interest rates beyond this month.