Gold prices fell further on Wednesday as optimism over a short-term economic recovery boosted investor demand for riskier assets, sending equities to three-month highs despite rising covid-19 tolls and ongoing protests in the US.

Spot gold declined 1.9% to $1,692.93 per ounce as of 11:30 a.m. EST. Gold futures were also down 2.1% to $1,691.90 per ounce on the Comex in New York.

“Generally markets are getting comfortable with the fact that even though the data is bad, things are likely to improve and that is taking the shine off gold,” Michael Hewson, Chief Market Analyst at CMC Markets UK, told Reuters…CLICK for complete article