Gold ticks lower, holds tight range as second virus wave fears weigh on stocks

- Gold prices edged lower on Monday, trading in a narrow range, as fears of a second wave of coronavirus infections in Beijing cut investors’ appetite for riskier assets.

“But, we need significant policy input from the U.S. Federal Reserve or governments to add that fourth level of stimulus to get gold to bounce higher.” “In the larger picture, gold still lacks the momentum required to crack its longer-term $1,660.00 to $1,760.00 an ounce range,” said Jeffrey Halley, senior market analyst at OANDA in a note.

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