Gold futures on Tuesday posted a second consecutive session decline, with profit-taking and strength in global stock markets the key reasons cited among analysts for the fall in prices. U.S. unrest and tensions with China continue to feed a bullish backdrop for the gold market, analysts said.
August gold fell by $16.30, or 0.9%, to settle at $1,734 an ounce.
Gold prices dipped on Wednesday as equity markets rallied on economic optimism and hopes for further stimulus measures boosted risk-on sentiment.
Spot gold was down 0.2% at $1,722.93 per ounce, as of 1252 GMT. U.S. gold futures fell 0.3% to $1,729.70.
Asian equities were set to follow the global equity rally from Tuesday, on hopes of more government stimulus.
On Tuesday, stocks in the U.S., Europe and emerging markets hit their highest levels since early March.
Traders hope that the...
Gold prices on Tuesday held on to last session™s more than one-week high on concerns around U.S.-China relations and as rising violent protests in the United States stoked fears of a resurgence in virus cases, while optimism on reopening of economies checked their rise.
Spot gold was flat at $1,739.48 per ounce, as of 0344 GMT. U.S. gold futures rose 0.1% to $1,752.10.
The U.S. is likely to revoke Hong Kong™s special status, and China would retaliate by limiting purchase of U.S....
Gold futures on Tuesday were edging higher on the back of a weaker U.S. dollar, with gains capped by the precious metal by a global rise in assets perceived as risky like stocks.
Commodity experts say that the yellow metal has enjoyed haven bids as investors remain wary of rising Sino-American trade tensions even as the economies reopening from forced closures due to the COVID-19 pandemic has dulled some of the safe-haven luster from the commodity.
Gold for August delivery on Comex was up...
Gold dropped for a second day as traders assessed the haven™s merits amid a rally in stocks and positive signs from economies reopening, while also focusing on continued civil unrest across the U.S.
Businesses are resuming operations worldwide, while manufacturing gauges are painting a more optimistic picture. Activity in China has recovered to 80% to 85% of pre-virus levels, according to Bloomberg Economics. Still, risks to growth remain, including simmering U.S.-China relations...