Gold prices slip as investors eye riskier assets
Tuesday,
22-May-2018
10:21 AM (IST)
Gold prices dipped slightly on Tuesday, hovering not far off a 2018 low struck in the previous session as a firm dollar near five-month highs and optimism in global markets curbed appetite for the precious metal.Spot gold eased 0.1 percent to $1,290.66 per ounce. In the previous session, it slid to $1,281.76, its lowest since Dec. 27.U.S. gold futures for June delivery were 0.1 percent lower at $1,290.10 per ounce.The dollar traded below a five-month high against a basket of currencies on Tuesday, catching its breath after a broad rally inspired by rising U.S. bond yields and relief at an easing of U.S.-China trade tensions.Washington and Beijing both claimed victory on Monday as the world’s two largest economies stepped back from the brink of a global trade war and agreed to hold further talks to boost U.S. exports to China.Meanwhile, Asian shares extended gains on Tuesday on renewed optimism about global growth after the U.S./China agreement.Among other precious metals, silver and palladium were both little changed at $16.47 an ounce and $989.70 an ounce, respectively.Platinum rose 0.1 percent at $897 an ounce, after marking a fresh low for the year in the previous session at $873.50.
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