Home Alternative Investments Gold continues with overnight losses as risk-on mood stretches

Gold continues with overnight losses as risk-on mood stretches

by Paul

Gold was mostly unchanged on Tuesday, holding on to its losses from the previous session as a pick-up in investor appetite for risky assets capped the demand for the precious metal.

Gold shed almost a per cent on Monday, when stock markets in the United States logged record highs amid hopes that a decline in US corporate earnings was bottoming out – dragging on bullion’s safe-haven appeal.

As on Tuesday, spot gold was up by a slight 0.1 per cent at $1,329.01 (£1,007.82) an ounce, while US gold was also up 0.1 per cent at $1,330.10 (£1,008.64) an ounce.

However, holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, firmed 0.25 per cent to 965.22 tonnes on Monday.

Risk Warning:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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