Gold slipped Tuesday as the dollar advanced, but remains trapped in this month’s narrow trading range near its highest since 2012.

While a slew of economic reports since last week added to risk-on sentiment, the resurgence in coronavirus cases from Australia to the Americas limited losses in havens like bullion. European officials expect a deeper economic slump than previously estimated this year, while Germany reported weaker-than-expected industrial data.

Net bullish bets in U.S. gold futures and options rose to a nine-week high, Commodity Futures Trading Commission data showed on Monday.

Spot gold was down 0.5% at $1,776.06/oz at 10:26am in London.

Source : Bloomberg