, Columnist
Gold’s Beauty Contest Still Has Legs
The metal retains its charms, even if the market has lost vigor.
Gold prices have been slipping, but futures positions suggest a rally may not be far away.
Photograph: NurPhoto/Getty Images
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What’s ailing gold?
After a rally from its lows in mid-December to a peak of $1,358 an ounce Jan. 24, the metal has lost all its vigor. Prices traded sideways before slumping in recent weeks to the low $1,300s. Without some gains soon, the 50-day moving average looks likely soon to slip below the 100-day measure, considered a bearish signal by many traders.