Gold edged lower on Thursday, easing from a near eight-year peak hit in the last session, as solid U.S. manufacturing data and promising results from a COVID-19 vaccine trial revived hopes for a quick economic recovery, denting demand for safe havens. Spot gold was down 0.1% at $1,767.79 per ounce by 0259 GMT, after touching $1,788.96 on Wednesday, its highest since October 2012.
U.S. gold futures fell 0.2% to $1,776.80. “A general pro-growth stance across markets is why we’re seeing a little bit of pressure on gold,” said Michael McCarthy, chief strategist at CMC Markets, adding that market action reflected a tussle between concern over rising COVID-19 cases and hopes for a vaccine and positive U.S. data…
