MADRID (MarketWatch) — Gold tried to picked itself off the mat on Wednesday, rebounding from a beatdown in the prior session as investors, at least temporarily, tapped the brakes on riskier plays.
Gold for April delivery GCJ5, +0.24% added $2.90 to $1,235.10 an ounce. March silver SIH5, +0.37% rose 5 cents to $16.92 an ounce.
A day earlier, gold futures settled with a loss of more than $9 an ounce, fading after from a strong rally in equities, as investors ignored the geopolitical headwinds generating from concerns about Greece’s bailout negotiations and broader worries that the global economy is being buffeted by deflation.
There is not much in the way of market-moving news expected from the economic front on Wednesday, but Thursday’s retail sales numbers will be closely watched as will be the outcome of the a eurozone finance ministers meeting in Brussels, which could decide Greece’s financial fate.
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In other metals, platinum for April delivery PLJ5, -0.09% fell 80 cents to $1,206.50 an ounce, while March palladium PAH5, +0.44% tacked on $4.20, or 0.6% to $769.90 an ounce. High-grade copper for March delivery HGH5, +0.78% was up 2 cents at $2.57 a pound.
