Singapore: Gold prices ticked lower yesterday as easing concerns about the global banking system fed risk appetite and curbed some safe-haven bullion bids.
Spot gold was down 0.2 percent at $1,960.52 per ounce falling for a second session. US gold futures slipped 0.4 percent to $1,977.00.
Gold rose above the $2,000 mark after the sudden collapse of two US lenders earlier this month, but has since ceded gains as authorities stepped in with rescue measures, including UBS’ takeover of ailing Credit Suisse and First Citizens BancShares’ deal to buy failed Silicon Valley Bank.
