London — Gold slipped on Tuesday as risk appetite was revived in global financial markets, lifting equities, but the precious metal was not far off a six-week high hit overnight as investors remained cautious over political tensions between Russia and the West. Stock markets jumped in response to reports the US and China were negotiating to avert a trade war and this dented the appeal of gold, which is seen as a safe haven. The dollar edged up against a currency basket — making dollar-priced gold costlier for non-US investors — though it was not far off a five-week low hit earlier as returning risk appetite dented investor appetite for the US currency. "There’s going to be a few months of talks before uncertainty around [the] global trade situation can be erased, and, in the meantime, gold will, at times, benefit," said Simona Gambarini, commodities economist at Capital Economics. "In the short term, we definitely see gains [for gold]." Spot gold was down 0.3% at $1,348.65 an ounce ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.