Gold dropped after four straight days of gains as risk-on sentiment came back into markets, even as investors continued to weigh the economic impact of the spreading coronavirus.

U.S. and European stock futures climbed with Asian equities Tuesday as investors looked past the likely economic impact of the virus to push a gauge of global stocks close to reclaiming a record high.

While there were some signs that the outbreak is peaking, fears still linger as the death toll from the virus climbed above 1,000. Chinese policy makers will likely roll out more measures to support the economy amid the impact of closures to fight the spread of the coronavirus, though the emphasis still lies on not over-doing it..

Spot gold -0.3% to $1,566.98/oz at 7:08am in London; +1.2% in previous four days. Silver little changed at $17.7783/oz. Platinum little changed at $963.48/oz.

Source : Bloomberg