Singapore April 23 2024: Gold prices fell on Tuesday to their lowest levels in more than two weeks on easing concerns of an escalation in the Middle East crisis, and as investors booked profits while awaiting key U.S. data for fresh clues on the Federal Reserve’s rate trajectory.
Spot gold was down nearly 1% at $2,304.99 per ounce, as of 0336 GMT. U.S. gold futures fell 1.2% to $2,318.80.
Gold dipped more than 2% in the previous session, marking its biggest intraday fall in more than a year, as fears of a wider regional conflict eased after Iran said it had no plan to retaliate following an apparent Israeli drone attack.
“Investors are seeing this as an opportunity to lock in some profits after gold’s recent run of good form,” Waterer said.
Gold hit a record high of $2,431.29 on April 12.
