Gold futures advanced 1.7% Tuesday, regaining the $1,800-an-ounce mark as bargain hunters returned to the metal.
Gold for December delivery rose $30.20, or 1.7%, to settle at $1,809.10 an ounce on the Comex division of the New York Mercantile Exchange.
In the medium term, gold is likely on a down trend, partly because it has failed to take out highs reached in late August, Pawlicki said.Large funds have also exited the trade, foreshadowing downward moves that could set gold back to lows around $1,700 an ounce, he added.
