Gold Rebounds from ‘Flash Crash’, But Still Finishes at March Low By Investing.com – Investing.com

Gold Rebounds from ‘Flash Crash’, But Still Finishes at March Low By Investing.com – Investing.com

By Barani Krishnan

Investing.com - Gold rebounded from its “flash crash” in Asian trading but still settled at near five-month low on Monday, casting pessimism in its outlook amid expectations of monetary action by the Federal Reserve that could significantly strengthen rival dollar.

hit a three-week high against a basket of other currencies after Friday's stronger-than-expected U.S. jobs report spurred bets that the Fed could move more quickly to taper the monthly stimulus of $120 billion it has been providing for the Covid-restrained economy. A rollback in the stimulus and eventual rate hike could spell doom for gold in the near-term.