Gold consolidates amid failing stock markets
ecPulse
2014-10-20 13:21PM UTC
Gold prices rose slightly today but remained around its highest levels in five weeks amid the European stock markets decline, and in conjunction with the continued worries regarding growth of the global economy. Investors fleed away from stock markets that carry a high risk heading towards gold as a safe haven during this period, whereas investors continue to shun stocks amid rising fears of global economy growth that started last week causing huge losses in stock markets. The metal is expected to consolidate today due to the absence of important economic data from major economies, at a time when markets are waiting to release several economic data from Europe and the U.S. this week. Caution is also expected to dominate the markets ahead of any further key economic releases, after the latest data indicated clear weakness in the Euro zone economy. Gold technical analysis .
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