Gold prices eased on Tuesday as investor sentiment remained skewed towards riskier assets in the wake of the French election results last weekend, though concerns over Korean peninsula limited the safe-haven's losses. Spot gold was down 0.2 percent at $1,272.67 per ounce as of 0700 GMT. US gold futures slipped 0.3 percent at $1,274.20.
Bullion prices fell about 0.7 percent in the previous session after touching $1,265.90 an ounce, the lowest since April 11, following the first round of France's presidential election that indicated less support for far-right candidate Marine LePen.
"People are going on the risk-on scenario (after French election results), but gold didn't really fall too far away," said Yuichi Ikemizu, head of commodity trading at Standard Bank in Tokyo. "There are more people who are still worried about not only France but other European countries, Trump policies and North Korean worries... investors prefer to hold gold rather than sell it off."
Bullion is often seen as an alternative investment during times of political and financial uncertainty. "Traders remained cautious through the day with North Korea celebrating military foundation day (85 years of militarised N. Korea), with a very real prospect of possible provocation to demonstrate their military prowess," said MKS PAMP Group trader Alex Thorndike.
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