Gold dipped on Wednesday to a two-week low after a near 1 percent decline in the previous session as increased investor appetite for risk boosted equities and dulled demand for safe-haven assets.

* Spot gold slipped 0.2 percent to $1,261.36 per ounce by 0055 GMT. Prices touched a low of 1,260.90 earlier in the session, the lowest since April 11.     

* Bullion fell 0.9 percent on Tuesday, the biggest one-day decline since early March.

* U.S. gold futures were down 0.3 percent at $1,262.90 an ounce.    

* Asian stocks extended gains for a fifth straight day on Wednesday as Wall Street hit new peaks.                

* The Nasdaq Composite hit a record high on Tuesday, while the Dow and S&P 500 brushed against recent peaks as strong earnings underscored the health of corporate America.                 

* The U.S. military started moving parts of the controversial THAAD anti-missile defence system to a deployment site in South Korea on Wednesday amid high tensions over North Korea’s missile and nuclear programmes.                 

* U.S. consumer confidence fell from a more than 16-year high in April, but a surge in new home sales to an eight-month high last month suggested underlying strength in the economy.                 

* The threat of a U.S. government shutdown this weekend appeared to recede on Tuesday after President Donald Trump backed away from a demand that Congress include funding for his planned border wall with Mexico in a spending bill.                 

* Goldman Sachs, in a note on Monday, said it continues to expect gold to come under pressure in the near term on a potential rally in real interest rates following the expected unveiling of President Trump’s tax policies on Wednesday or later.                 

* Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.69 percent to 854.25 tonnes on Tuesday.              

* China’s net-gold imports via main conduit Hong Kong more than doubled month-on-month in March, data showed on Tuesday.

Source: Reuters

Generic filters

Academy Archive