Gold down in Asia

SINGAPORE: Gold prices slipped on Tuesday as hopes for a gradual recovery in economic growth rose following easing of lockdowns, though deteriorating US-China relations and fears over the spread of the coronavirus amid protests in the United States limited losses. Spot gold was down 0.3% at $1,734.66 per ounce as of 0819 GMT. US gold futures fell 0.2% to $1,746.10.

"It appears that there are factors both supporting, and limiting appreciation in the gold price," said National Australia Bank economist John Sharma. Reflecting investor sentiment, SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.5% to 1,128.40 tonnes on Monday, the highest in seven years.