Gold Price Dips As Coronavirus-Led Restrictions Ease
Gold, which is considered an alternative asset during times of economic and political turmoil, rose 18 per cent last year due to the tariff war and interest rate cuts by the Federal Reserve.
Gold prices slipped on Tuesday as moves by some countries to relax coronavirus-led restrictions overshadowed concerns of souring US-China relations and dampened the metal's safe-haven appeal.
Spot gold eased 0.1 per cent to $1,700.14 per ounce at 0524 GMT (10:54 am in India). US gold futures fell 0.4 per cent to $1,706.10 an ounce.
"We are holding quite steady around the $1,700 level. On one side, you've got easing in lockdowns and that is probably improving investor sentiment and a move away from safe havens towards risk assets," said ING analyst Warren Patterson.
"On the other side, ten...