Bengaluru
Gold fell to a two-week low on Wednesday as investors opted for riskier assets such as equities on renewed optimism over the U.S. economy and as political uncertainty in France receded, softening demand for safe-haven assets.
Spot gold was mostly unchanged at $1,263.53. Earlier in the session, prices hit a low of 1,260.90, their lowest since April 11. U.S. gold futures were down 0.2 percent at $1,264.90 an ounce.
Asian stocks extended gains for a fifth straight day on Wednesday after Wall Street hit new peaks.
"Over the past two sessions, the momentum for gold to move ahead has actually faded away. We can see that risk appetite has increased after the easing situation in North Korea and French election results," said Mark To, head of research at Hong Kong's Wing Fung Financial Group.
In this picture, the PCJCCI logo can be seen on September 1, 2022. — Facebook/Pakistan China Joint Chamber of...
A representational image of a US flag pictured alongside a street sign reading "Wall Street" in the New York city. —...
A security guard sits in front of a wall with signs and slogans at the operation building at the Pakistan Steel Mills ...
A worker cleans the entrance to the headquarters of Bank Indonesia, the nation's central bank, in Jakarta, Indonesia....
The MCB's logo is seen on a wall outside the bank's head office. — MCB websiteKARACHI: MCB Bank Limited on...
A foreign currency dealer counts US dollars at a shop in Karachi. — AFP/FileKARACHI: The rupee lost ground against...
