(Kitco News) – Gold Prices are seeing some follow-through buying interest following Monday’s gains that pushed prices to a three- Week high. There is again some safe-haven buying interest in gold, along with some short covering in the futures market. There is still some anxiety in the marketplace Tuesday, but not as much as Monday. China’s central bank on Tuesday injected 130 billion yuan in short-term funds into its banking system and also intervened in the foreign exchange market to support the yuan. This helped to somewhat stabilize Asian stock markets following Monday’s strong selling pressure. Still, Chinese and world stock indexes were feeling a bit more selling pressure Tuesday.
By Jim Wyckoff, contributing to Kitco News; jwyckoff@kitco.com
Follow Jim Wyckoff @jimwyckoff
