Gold is not enjoying any safe-haven demand right now 1 MarchOrdinarily we might expect to see some risk-off gold buying when equities turn lower but that’s another correlation currently thrown out the window. Similarly AUD proving resilient to the tumble today.
It appears the overall USD demand is enough right now to give gold the elbow.
Now trading at $1305.79, lows not seen since 4 Jan after another soggy session falling from $1320.
Expect demand nearby around $1300 and $1285 with rallies limited to $1315-25 for the moment.