Gold remained below the key $1,200 level on Tuesday, adding to overnight losses, as a rally in global equities and a firmer dollar dented the metal's appeal as a safe haven. Spot gold was down 0.2 percent to $1,194 an ounce at 0657 GMT after losing 0.7 percent on Monday. "Precious markets declined, as market participants pared back safe-haven exposure in gold," said ANZ analyst Victor Thianpiriya. "Risk appetite improved, with traders moving towards US and European equities."
The dollar edged higher against its peers on Tuesday, drawing support as the euro was pressured by increasing worries that Greece could default on its debt and eventually exit the single currency. Russia's gold reserves rose to 39.8 million troy ounces as of April 1 from 38.8 million ounces a month earlier, the central bank said on Monday.
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