Gold futures edged lower Tuesday, trimming recent gains, with the precious metal losing a bit of its safe haven appeal as stocks were able to steady.
Feb. gold settled at $1,089.10/oz on Comex, down $1.60, or nearly 0.2%.
Whereas other assets have been volatile of late, gold has been moving between $1050 and $1100 for the past few months.
Hope for Chinese stimulus in the wake of disappointing China GDP data helped relieve some anxiety today.
In economic news, the National Association of Home Builders’ gauge of homebuilder sentiment was unchanged at 60 in January, but the December reading was revised slightly lower.
The material has been provided by InstaForex Company – www.instaforex.com