Gold futures fell on Wednesday for a second straight session, pressured on the heels of some strength in the U.S. dollar, even as concerns over the economic hit from COVID-19 remain.
"It would appear that gold needs a clear sign of a pandemic and clear signs of severe global slowing to ignite a return of aggressive investment buying," said analysts at Zaner Metals, in a daily note. "The trade could be fearful about the potential for a sustained setback in Chinese physical gold purchases."
April gold fell $6.90, or 0.4%, to settle at $1,643.10 an ounce, following a loss of 1.6% on Tuesday.
Source : MarketWatch