The precious metal gold edged down on a low note
The precious metal gold edged down on a low note as as strong US manufacturing data encouraged investor appetite for riskier assets such as stocks, decreasing bullion's appeal as an alternative investment.
James Steel, chief commodity analyst at HSBC said: "Right now an increase in risk appetite has undermined gold, whose safe-haven appeal has diminished but the market is still well bid. It shows good underlying support for gold as economic uncertainty remains in the background."
Gold prices for December delivery settled down $2.20 an ounce to $1,248.10.
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