Gold fell on Thursday, shrugging off weaker European equity markets as a rebound in oil prices from 12-year lows and a higher opening on Wall Street pointed to a recovery in risk appetite, blunting bullion’s appeal as a haven.
Spot gold was down 0.8 percent at $1,084.26 an ounce at 1430 GMT, while U.S. gold futures for February delivery were down $2.80 at $1,084.30.
The metal hit two-month highs at $1,112 last week as volatility in Chinese stocks battered appetite for risk, but trading has since been choppy. Stocks fell further in Europe on Thursday, but Wall Street opened higher.
via Reuters
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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