Bengaluru — Gold prices eased on Tuesday after gaining more than 1% in the previous session. The dip came even though a sell-off in global equities — amid concern about a US-China trade war — continued to support the safe-haven metal. Spot gold was down 0.2% at $1,338.51 an ounce at 3.24am GMT. It climbed 1.3% on Monday in its biggest one-day percentage gain in a week. US gold futures eased 0.3% to $1,342.80 an ounce. MKS trader Sam Laughlin said the fall was most likely due to Chinese investors getting out of their positions ahead of holidays on Thursday and Friday. The three-day Qingming tomb-sweeping festival in China starts on April 5. Risk-averse sentiment in broader markets underpinned bullion, often seen as an alternative investment during times of political and financial uncertainty. Mark To, head of research at Hong Kong’s Wing Fung Financial Group said gold "for the immediate short term will be well supported because of the volatility in the equity markets". "The previous ...
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