Gold came under renewed selling pressure on Wednesday, hovering around $1,730 an ounce as prospects of a robust economic recovery fuelled by the vaccines’ rollout and more government spending spooked investors away from safe-haven assets. In the absence of significant fundamental drivers, the risk-positive market environment seems to be making it difficult for the precious metal to attract investors. Still, signals that the Fed will be keeping monetary policy extremely easy for the foreseeable future have lent some optimism to the gold bulls.
