Gold was steady on Tuesday and trading below a near three-week high, retaining overnight losses as investors propped up equities and the U.S. dollar, denting the metal’s appeal as a hedge.
Spot gold was little changed at $1,133.35 an ounce by 0042 GMT, after a 0.5 percent drop on Monday. The metal had climbed to a near three-week high of $1,141.50 last week.
Wall Street and European stocks rebounded more than 1 percent on Monday in rallies that, along with robust gains in the dollar and global oil markets, showed investors were tilting toward riskier assets.
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