Gold Stumbles as a Safe Haven in Worst Week Since 2016
- ‘Gold found itself on the chopping block,’ says DailyFX
- Prices touched $1,700 in the week, but couldn’t hold it
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As financial markets around the world cratered this week, gold wasn’t much of a safe haven.
While prices briefly flirted with $1,700 an ounce on Monday, selling pressure from every corner of the market spread to bullion too. In the rush to raise cash, investors pulled money out of gold and the stronger dollar made the metal less appealing.