Gold edged lower for a second day Tuesday as investors shook off trade worries, with appetite for riskier assets boosted by additional efforts by China to stoke its economy.
Gold for June delivery on Comex fell $3.60, or 0.3%, to $1,321.10 an ounce, while July silver edged up $1.10, or 0.1%, to $14.65 an ounce.
The weaker tone comes as global equities staged gains after Chinese authorities said they would back special-purpose bond issuances by local governments as part of an effort to bolster economic growth. China' government will step up efforts to accelerate financing of major projects through such bond issuance, which are used largely for infrastructure investment, the People's Bank of China said in a statement, according to The Wall Street Journal (paywall).
Source : Marketwatch