London — Gold fell on Tuesday as sharper appetite for risk benefited cyclical assets at bullion’s expense, although losses were capped by the dollar’s slip to a three-week low against a basket of currencies. Gold rallied to a two-and-a-half-month high last week as heightened tension over Syria and US sanctions on Russia sparked a drop in equities and ratcheted up interest in nominally defensive assets. Those gains, however, have proved hard to maintain. Spot gold was down 0.2% at $1,342.40 an ounce by 9.45am GMT, while US gold futures dropped 0.4% to $1,345.20. "All this noise we’ve been witnessing as of late, whether it is trade disputes or Syria, has not really moved gold on a sustainable basis," said Julius Baer analyst Carsten Menke. "The story would be different if these disputes prevailed and we got a significant slowdown in leading indicators. But it doesn’t seem to me that anybody is really afraid of a material deterioration in the economic backdrop." A gradual return of ris...
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