Gold edged lower on Tuesday as an improvement in risk appetite after efforts by regulators to allay fears over the global banking system slowed safe-haven inflows into bullion.
Spot gold was down 0.1% at $1,955.60 per ounce as of 0731 GMT. U.S. gold futures rose 0.1% to $1,956.60.Some profit-taking after gold recently touched the $2,000-level and hopes of a resolution to the banking crisis have added up to some significant position-squaring in gold, said Clifford Bennett, chief economist at ACY Securities.
However, gold remains the "resolute safe-haven" in a "rolling risk environment" for the banking sector, as risks of contagion are far more persistent than the market would like to believe, Bennett added.
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