Gold prices fell for a second session Wednesday as stronger stocks lured investors away but lingering geopolitical risks provided some support.
Gold for August GCQ4 -0.51% edged down $1.60, or 0.1%, to settle at $1,304.70 an ounce.
Gold only holds “slight upside potential” in the short term, wrote commodities analysts at Commerzbank on Wednesday. They noted that dollar-denominated gold was weighed by gains in the dollar EURUSD -0.04% against the euro Tuesday as the U.S. annual inflation rate remained at 2.1%.
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