Bengaluru — Gold prices fell on Tuesday to hover near their lowest in more than a week, as positive economic data from major economies stoked risk appetite, softening demand for safe-haven bullion. Spot gold was down 0.3$ at $1,284.53 an to $1,281.96, its weakest since April 4. US gold futures shed 0.3% to $1,287.40 “It’s a question of risk sentiment in financial markets. Equities are up, which is putting pressure on gold, traditionally seen as a safe haven,” Julius Bär analyst Carsten Menke said. “We’ve seen positive data out of China lately. That really supports the view of an improvement in the Chinese economy as well as the global economy, in turn supporting risk sentiment.” China reported better-than-expected credit and export figures last week that allayed concerns regarding the pace of economic growth. Jobs data from the US last week also assuaged concerns that the world’s largest economy was losing momentum, with the number of Americans filing applications for unemployment b...

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, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now