LONDON, Feb 25: Gold prices slid nearly 1 per cent on Tuesday as investors booked profits after the metal soared to a seven-year high in the previous session on the backdrop of a rise in coronavirus cases outside China.
Spot gold slipped 0.8pc to $1,646.80 per ounce by 1209 GMT, having shed more than 1pc at one point earlier in the session. US gold futures fell 1.6pc to $1,649.50.
On Monday, the metal surged as much as 2.8pc to $1,688.66, its highest since January 2013.
Gold in euros and gold priced in sterling slid from all-time peaks hit on Monday.
On the technical front, gold may retest a support at $1,639 per ounce, according to Reuters analyst Wang Tao.
Among other precious metals, palladium gained 1.3pc to $2,661.99 per ounce.
Silver fell 1.4pc to $18.37 an ounce, having touched its highest since early September on Monday, while platinum inched 0.1pc lower to $962.60. -Reuters
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