Gold prices dropped yesterday and eased concern over a potential fallout from the global banking crisis. This increased appetite for riskier assets and demand for the metal decreased.
Spot gold was trading 0.4% lower at $1,966.48 per ounce, as of 0356 GMT, after rising 1% on Tuesday. U.S. gold futures slipped 0.3% to $1,967.50.
Matt Simpson, a senior market analyst at City Index said “... gold is pulling back after a failed ‘bid’ to break above $1,975,”
