Gold Poised for $1,900 Strike, Bucking Global Markets Selloff By Investing.com – Investing.com

Gold Poised for $1,900 Strike, Bucking Global Markets Selloff By Investing.com – Investing.com

By Barani Krishnan

Investing.com - Gold bucked the global markets selloff triggered by China’s crypto-crackdown on Wednesday, advancing toward the key bullish level of $1,900 as risk-averse investors took cover in safe havens that included the yellow metal.

Like most commodities, gold took a hit earlier in the day after China marked a fresh crackdown on digital money by announcing tighter enforcement on the ban over financial institutions and payment companies from providing services related to cryptocurrencies.