Within 24 hours, the gold market has experienced a change that the prices in the spot price and domestic futures market are set to come under pressure on Friday. Transformation has been such as the precious metal could eventually give up all that gained this week. During this period, equities have gained worldwide, attracting investors to the stock markets.
Bullion gained most of January to this week as weakness in global equities buffed its safe haven appeal, and for purchases at a brisk pace by main buyer China ahead of the Lunar New Year holiday, which starts today .
However, equities have stabilized after strong U.S. data investors be concerned about capital flight from emerging markets, and China has entered a one-week break, leaving the gold without a key support during Asian hours.