London — Gold prices fell on Tuesday as markets became less concerned that far-right leader Marine Le Pen would win the French presidential election, increasing investor appetite for risky assets such as stocks while denting bullion. Spot gold was down 0.5% at $1,269.20 per ounce at 1.55pm GMT. US gold futures slipped 0.4% to $1,272. Business-friendly centrist Emmanuel Macron won the first round of the French vote on Sunday and opinion polls indicated less support for Le Pen. The news sent bullion prices to their lowest since April 11 at $1,265.90 in the previous session. "We’ve moved from having multiple numbers of positive drivers for gold last week when yields were on the defensive and we had multiple geopolitical risks," said Ole Hansen, head of commodity strategy at Saxo Bank. "But now with the French election (first round) behind us, there is a bit of a surge of risk-on coming back to the market. The main worry was a strong performance by Le Pen." Gold is often seen as an alte...
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