Gold futures lost some ground Tuesday as global equities rallied in response to easing business lockdowns as the pandemic recedes and encouraging reports of progress toward a COVID-19 vaccine, dulling the yellow metal’s haven appeal.
Gold for June delivery on Comex fell $10.60, or 0.6%, to $1,724.90 an ounce, while July silver was up 9.7 cents, or 0.5%, at $17.79 an ounce.
Gold is trading "in a scenario where investors are looking for fresh stimuli to move markets. The risk on approach seen on stocks in the last few days pulled down the price,” said Carlo Alberto De Casa, chief analyst at ActivTrades, in a note.
Source : Marketwatch