Gold prices fell from near-record highs in Asian trade on Tuesday as a recovery in stock markets boosted demand for less risky assets, although demand was still supported by relative gains in the yellow metal. Investing.com writes about this.
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Gold jumped to near-record highs on Monday as the collapse in global stock markets forced traders to enter lower-risk assets such as bullion. Rising expectations of a U.S. recession and the Federal Reserve's policy of delaying interest rate cuts have helped drive up gold prices, while pushing down the dollar.
Expectations of Iran's response to the killing of a Hamas leader in Tehran have also helped drive up demand for gold.
Futures fell 0.3% to $2,402.57 an ounce. Spot prices reached $2,460 an ounce earlier in the week.
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