FOX LIVE NEWS UPDATE
Gold Risks Dereliction of Duty Charge as Turmoil Sees No Reward
-old reputation as a haven is taking a beating.
Although bullion’s had everything going for it this week — from turmoil in Italy and sliding equity markets to a renewal of trade tensions and rethink of the outlook for U.S. rate hikes — prices are still languishing near the lowest this year. Even a warning of peril from investor George Soros didn’t lend a hand.
The yellow metal hasn’t made any headway in 2018, and is poised to close out back-to-back monthly losses in May despite the risk aversion now rippling through markets. The reason lies in the greater appeal of U.S. Treasuries and a rising dollar, according to Stephen Innes, head of trading at Oanda Corp.
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