Gold Edges Lower, Losing Shine as Stocks Rally on Easing Lockdowns, Vaccine Hopes
Tuesday, 26 May 2020 19:20 WIB | PRECIOUS METALS |GOLDEMAS

Gold futures lost some ground Tuesday as global equities rallied in response to easing business lockdowns as the pandemic recedes and encouraging reports of progress toward a COVID-19 vaccine, dulling the yellow metal™s haven appeal.

Gold for June delivery on Comex fell $10.60, or 0.6%, to $1,724.90 an ounce, while July silver was up 9.7 cents, or 0.5%, at $17.79 an ounce.

Gold is trading "in a scenario where investors are looking for fresh stimuli to move markets. The risk on approach seen on stocks in the last few days pulled down the price, said Carlo Alberto De Casa, chief analyst at ActivTrades, in a note.

Source : Marketwatch

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