[miningmx.com] — GOLD fell more than 1% to $1,874.39 an ounce on Tuesday, as worries over a possible recession retreated.
“We have got to recognise that the rally in gold has been overdone,” Standard Chartered analyst Daniel Smith said.
“We don’t think the world is going into recession, the downside risk for the global economy has been overdone a little bit.”
Gold was at $1,884.04 by 08:35 down from $1,896.89 an ounce late in New York on Monday.
