Gold slips after buoyant performance last week
However, losses for gold were limited, with a weakening dollar and prices still hovering at about $1,224, a key technical level, analysts say
Bengaluru — Gold fell on Monday, retreating from last week's two-and-a-half-month peak as rallying global stock markets pointed to improved investor appetite for risk. Spot gold was down 0.2% at $1,223.74 an ounce at 10.42am GMT, having hit a two-and-a-half-month high last week at $1,233.26 per ounce. US gold futures fell 0.2% at $1,226.60 an ounce. European shares gained ground after Moody's kept Italy's sovereign rating intact, with the market also taking cues from rallies in Asia, after China's promise to provide stimulus to stabilise its economy and offset the effects of US tariffs. However, losses for gold were limited, with a weakening dollar and prices still hovering around the 100-day moving average, around $1,224, a key technical level, analysts said. "We are still in a lateral phase between $1,220 and $1,230. I wouldn't be worried about the low correction this morning as long as it is keeping positive momentum," ActivTrades chief analyst Carlo Alberto De Casa said. Geo-pol...
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