Gold Retreats as Equities Bounce Back

Reuters reported that gold lost steam on Tuesday, as equity markets began to gather favour from investors again, although appetite for physical buying remained strong.

As quoted in the market report:

Spot gold fell 0.25 percent to $1,390.81 an ounce by 0643 GMT, after gaining more than half a percent on Monday. It rose 2 percent last week – its strongest weekly percentage gain in a month – but is down 17 percent for the year.

To view the whole Reuters report, click here.