Gold steadies a bit after Friday’s post-Fed-minutes selloff, but futures still point toward a four-month low as the close looms. Logic Advisors’ Bill O’Neill cites a set of factors he says are keeping investors from buying the precious metal during it’s six-week retreat. Stock markets are doing pretty well. Meaningful inflation is absent in the US and Europe. The dollar is near the middle of the range it’s carved out since the financial crisis. “For the most part, funds have been shying away” from gold. Comex February gold is down 0.2% at $1,645.20/oz, set for the lowest settlement since mid-August.
By Matt Day at Dowjones
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