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LONDON. — Gold prices fell 2 percent as investors opted for riskier assets following news of US President Donald Trump’s plans to restart the US economy and promising early data related to a potential Covid-19 treatment. Gold was down 1,8 percent at $1,686.45 an ounce. Earlier this week, it scaled a seven-year peak on concerns over the worst recession in decades.
“The latest sentiment drift to the positive side and narrative that a plan to return to normal is now afoot are seeing spot gold trading back through $1,700-an-ounce technical support,” Saxo Bank analyst Ole Hansen said.
Global financial markets drew comfort from Trump’s plans for a gradual reopening of the US economy, overshadowing anxiety over data showing China that suffered its worst quarterly economic contraction on record. — Reuters.
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