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Reuters reported that positive jobs data from the US and stimulus measures laid out by the ECB.
Reuters reported that positive jobs data from the US and stimulus measures laid out by the ECB.
According to the report:
Spot gold was down 0.4 percent at $1,247.84 an ounce at 1354 GMT, off an earlier high of $1,257.50, while U.S. gold futures for August delivery were down $5.30 an ounce at $1,248.
VTB Capital analyst Andrey Kryuchenkov said:
There can’t be a substantial price rebound without any meaningful investor or consumer buying. Major players will remain on the sidelines for now. European investors would be putting money into blue-chip equities, while with improving risk sentiment there is even less incentive to invest in gold.
