Gold edged lower for the second straight day and dropped to four-day lows, levels just below the $1570 region during the early European session on Tuesday.
The safe-haven commodity extended the previous session's retracement slide from near four-week tops and continues to be weighed down a strong recovery in the global risk sentiment.
Gold weighed down by a combination of factors
Efforts by the People’s Bank of China to cushion the economic impact from the outbreak of the deadly coronavirus and pledge to do more helped boost investors' appetite for perceived riskier assets.
This was evident from a positive mood around equity markets and reinforced by a goodish pickup in the US Treasury bond yields, which further drove flows away from the non-yielding yellow metal.


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