Gold futures retreat as dollar, equities rebound

Gold futures on the COMEX division of the New York Mercantile Exchange settled lower on Tuesday as the USA dollar strengthened and equities rebounded.

Area gold XAU= was up 0.2% at $1,519.51 per ounce as of0522 GMT.

" We are seeing trip to safety and security, market self-confidence is a bit shaky".

"On the flip side, gold's bull run is going on for sometime, we are afraid in the short-term there might be some pullback, corrections and people locking in profits, which might create volatility in coming days".

"The last three times (the yield curve inverted), US recessions soon followed", Investing.com global markets analyst Jesse Cohen noted.

Worries of an global economic crisis grasped monetary markets around the globe as supplies sagged to greater than two-month lows on Thursday, tracking a Wall Street slide.

"We have continued safe-haven buying with stock markets looking pretty wobbly ahead of USA retail sales data", OANDA analyst Jeffrey Halley said.

"The U.S.is the last man standing among Europe and China. We could see an outsized reaction overnight if data comes in ugly, which should help gold again". -China profession battle, Brexit and also geopolitical stress.

Gold prices drew some safe-haven demand and rebounded on Thursday in Asia as global stock markets fell.

The Office of the US Trade Representative said the Trump administration will delay 10pc tariffs on certain Chinese products, including laptops and cell phones, that had been scheduled to start next month.

Market focus shifts to the U.S. Federal Reserve's annual symposium next week for clues on the future trajectory of interest rates. Traders see a 76% chance of a 25 basis-point rate cut by the USA central bank next month.

Global markets fell after the yield on the 30-year USA bond hit an all-time low, while the yields on the German 10-year bund and the French 10-year OAT marked fresh record lows in negative territory.

Meanwhile, holdings in the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, jumped 0.9pc to 847.77 tonnes on Monday.

Among other precious metals, silver eased 0.1% to $16.95 per ounce, after hitting more than one-and-a-half-year high in the previous session. Platinum for October delivery declined 4 dollars, or 0.46 percent, to settle at 859.70 dollars per ounce.

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