Gold slides as investor appetite for risk returns
Spot gold falls 0.1% on firmer dollar and strong US data and corporate results
Gold fell on Friday, following its biggest one-day percentage loss in a month in the previous session, on a firmer dollar and increased investor appetite for riskier assets due to strong US data and corporate results. Spot gold fell 0.1% to $1,285.01/oz as of 3.11am GMT. US gold futures was 0.1% lower at $1,285.20/oz. Spot gold fell 0.8% on Thursday, its biggest one-day percentage decline in a month after risk sentiment improved. “Markets are very much inclined towards the riskier assets. Investors are trying to price in breakthrough in talks due to the conciliatory tone from both the camps,” said Benjamin Lu, analyst with Singapore-based Phillip Futures “Strong corporate earnings have also helped to give some support to equities and the dollar. Most of the managed-money managers are trying to take out profits, which is pressuring gold.” US stock indices extended gains on upbeat earnings as well as robust economic data that underlined the strength of the domestic economy. Meanwhile,...
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