Gold price has room to go lower

Gold price has room to go lower

The Malaysian Reserve-News·2020-12-02 15:00

GOLD could decline lower and test US$1,720 (RM7,052) a troy oz price level as investors continue to take “risk on” trades at the expense of safe havens on expectation economies and cyclicals will enter a recovery phase due to the availability of Covid-19 vaccines soon.

Malacca Securities Sdn Bhd head of research Loui Low said gold had rallied earlier due to its safe haven status and amid the uncertainties in the markets.

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