Gold slips as investors rediscover their risk appetite
Palladium hits a record high of $1,340.50/oz, as the markets await US Fed minutes later in the day
Bengaluru — Gold slipped for a second session on Wednesday as investors regained appetite for risk on hopes of a breakthrough in US-Chinese trade talks, while palladium hit a record high. Spot gold was down 0.3% at $1,280.95 an ounce as of 10.32am GMT. US gold futures also shed 0.3% to $1,281.70 an ounce. “Since gold almost hit the $1,300 mark, we have seen a recovery in the equity markets,” said Julius Bär analyst Carsten Menke. “This means that safe-haven demand is not as strong as it was around the turn of the year, and that is what is holding gold back a little bit now.” The metal hit a more than six-month peak of $1,298.42 an ounce last week, but improving risk-taking appetite among investors since then has weighed on the metal, often seen as a safe haven for investors in times of uncertainty. Global equities climbed to their highest in four weeks on growing optimism that China and the US will fix their souring trade relationship. Investors are also awaiting the release of minu...
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