Gold Tumbled as Strong Macro Data Lifted Risk Appetite

Gold slumped to a 5-week low as encouraging macroeconomic data raised expectations of a sustainable recovery, lifting risk appetite. Geopolitical tensions took a back seat as investors were less focused on the Ukrainian PM’s resignation which indicated the collapse in the coalition Government and triggered new elections in coming months. The benchmark Comex gold contract fell to as low as 1287.5 before ending the day at 1290.8, down -1.07%.

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Gold Tumbled as Strong Macro Data Lifted Risk Appetite