Gold Pares Losses As Bargain Hunters Step In To Buy The Dip

KitcoNews/Jim Wyckoff/10-03-17

Gold is trading near steady levels on the day, in late-morning action Tuesday. The early price weakness that saw the gold market hit a seven-week low overnight prompted traders to step in and buy the dip on some bargain hunting and on short covering from the futures traders. Gold bulls are still in trouble as prices are in a steep three-week-old downtrend on the daily bar chart. December gold was last down $0.10 at $1,275.80.

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