Despite rebound sign, gold loses shine

Although gold prices, which have been slumping of late, have showed signs of a rebound on softening US dollar, the upside may not last long due to a variety of factors, analysts said.

For one, the recent continuous price slump has shaken the market confidence and spread concern among traders.

For another, throughout June, prices dropped despite trade tensions, falling US bond yields and investors' growing risk-aversion. In the normal course, the three factors would have sent investors scurrying toward gold from other asset classes. But not this time.