FOX LIVE GOLD NEWS UPDATE
PRECIOUS-Gold edges up, but safe-haven demand starts to fade
April 24 (Reuters) – Gold prices inched up on Tuesday, but stayed near two-week lows as a stronger dollar, rising U.S. Treasury yields and receding geopolitical worries crimped safe-haven demand for the metal.
After falling for the three previous sessions, spot gold XAU/USD
1,327.51+2.66 (+0.20%)
11:22:41 – Real-time Data
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Technical Summary
XAU= had edged up 0.1 percent to $1,325.81 per ounce by 0417 GMT. That was not far from a low of $1,321.81 touched on Monday, its weakest since April 6.
“Gold is going up and down with views on risk-aversion … less risk-aversion is pushing it down. We feel that there could be more downward pressure on gold in the near-term,” said John Sharma, an economist with National Australia Bank.
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