Reuters/Zandi Shabalala/09-05-17
Gold eased on Tuesday as investors booked profits after the previous session’s rise to a one-year high, though prices remain underpinned by safe-haven demand because of continued concern over North Korea’s nuclear tests.
Spot gold was down 0.3 percent at $1,332.40 an ounce by 1020 GMT, having peaked on Monday at $1,339.47, its highest since late September.
“Gold shot up quite a bit in the past few days so if you bought it then you’ve made a nice profit and you could take some off the table,” said Robin Bhar, head of metals research at Societe Generale.
PG View: Gold left a small gap on yesterday’s open, which has now been filled. Downticks have been limited and seem to be attracting buying interest.
