MTECHTIPS;-Gold slides to 2-week low as markets embrace riskier

MTECHTIPS;-Gold slides to 2-week low as markets embrace riskier assets

MTECHTIPS-Gold prices extended overnight losses in North American trading on Tuesday, falling toward the lowest level in about two weeks as investor sentiment remained skewed toward riskier assets in the wake of Emmanuel Macron’s victory in the first round of Sunday’s presidential elections in France. Comex gold futures slumped $7.90, or around 0.6%, to $1,269.60 a troy ounce by 8:30 AM ET (12:30 GMT). Meanwhile, spot gold was at $1,268.30, down 0.6%. The yellow metal lost $11.60 on Monday after hitting its lowest since April 11 at $1,266.00, as investors dumped safe-haven assets after French election results eased fears over the future of the euro zone. Also on the Comex, silver futures dipped 11.2 cents, or about 0.6% to $17.82 a troy ounce, after touching a one-month low of $17.55 in the prior session. Global stocks and the euro remained in demand on Tuesday as markets embraced riskier assets in the wake of the French election results on Sunday. The MSCI World Index, a gauge of global stocks, hit an all-time high for the second straight session. The gains came as polls showed pro-Europe Macron easily defeating far-right nationalist Marine Le Pen in a runoff vote due to take place May 7, reducing the risk of an anti-establishment shock in the final round and easing fears over a possible French exit from the euro zone
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