Gold slips away from one-month high as dollar firms

Bengaluru — Gold prices eased on Tuesday from a one-month high as the US dollar gained strength on signs of a slowdown in fresh coronavirus cases, but concerns over the economic fallout from the pandemic provided a floor to bullion.

“But it’s pretty clear that the trend in the short term is upward. A lift in equities is not weighing on gold because it rallied overnight alongside equities. There appears to be a serious breakdown in the inverse correlation between gold and growth assets,” McCarthy said. The US is bracing for its toughest week as the death toll climbs above 10,000, while across the Atlantic, British Prime Minister Boris Johnson has entered intensive care after his Covid-19 symptoms worsened.

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