Gold Sinks Lower After Sharp Selloff as Equity Markets Stabilize
- Yellow metal saw biggest intraday drop since June on Monday
- Exchange traded funds added 125,101 troy ounces of gold
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Gold continued its march lower on Tuesday, while global equity markets steadied after the previous day’s rout.
Spot bullion was down about 1%, falling after US data showed a June trade deficit of $73.1 billion — slightly larger than the median estimate of 44 economists. The drop follows a 1.3% fall on Monday amid broader market chaos.