Gold prices are little changed on Monday, suggesting the price has stabilized in recent days, but RJO Futures Senior Commodities Broker Phil Streible tells TheStreet’s Joe Deaux that downside risk remains for the yellow metal. While gold gained some $30 the first two trading days of the year, the price could take a hit if upbeat economic data continues to show the U.S. economy is improving. If the price dips back near $1,200 an ounce, Streible says cheaper gold could encourage more physical demand.
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