Gold prices fell on Tuesday as investors booked profits after the metal surged to a more than seven-year high in the previous session and as equities regained some footing, but a spike in coronavirus cases outside China capped bullion’s losses.
Spot gold slipped 0.7% to $1,649.70 per ounce by 0847 GMT, having slipped 1.7% at one point earlier in the session. U.S. gold futures fell 1.5% to $1,652.
On Monday, the metal rose as much as 2.8% to $1,688.66, its highest since January 2013.
The coronavirus death toll climbed to seven in Italy on Monday, while several Middle East countries were dealing with their first infections.
Source : Reuters