Gold Eases to $1205 after Super Surge

Gold slipped on Tuesday but retained most of the gains from its biggest daily jump in a year the day before as a rebound in oil prices and a weaker dollar burnished its appeal as a hedge.

Spot gold had dipped 0.3 percent to $1,206.30 an ounce by 0042 GMT, after gaining nearly 4 percent on Monday – its biggest one-day jump since September 2013.

The metal hit $1,220.99 in the previous session – its highest since Oct. 29, after dropping to $1,142.91 earlier in the day after Switzerland voted against a proposal to boost its gold reserves.


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