Gold futures headed lower again on Tuesday, setting the bruised market up for a seventh straight loss as its latest tumble has already marked the longest streak of daily declines in about two years.
“The key reason for gold price to fall is China,” said Chintan Karnani, chief market analyst at Insignia Consultants. “There is apprehension that a slower Chinese economy will translate into slower pace of gold demand.” China lowered its growth forecast to between 6% and 6.5% for this year.
