Uncertainty is the dominant theme on gold market

Uncertainty is the dominant theme on the gold market currently with bullion steady with little volatility as investors wait for a new market driver. After the fall in stock seen over the last few days, traders are trying to understand if this was only a correction of if the movie just started. Meanwhile, they are not yet recalibrating their portfolio and gold is trading at around $1,850. Any further macro data or words from central bankers that suggest new monetary stimulus would be seen as positive news for the yellow metal. Moreover, any new declines in the dollar could trigger further recoveries for gold.