MTECHTIPS;- Gold Prices Move Lower as U.S. Stock Futures Rise

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MTECHTIPS;- Gold Prices Move Lower as U.S. Stock Futures Rise

MTECHTIPS-Gold prices moved lower on Tuesday, trimming some of the previous day’s gains as U.S. stock futures pointed to a recovery on Wall Street following Monday’s selloff, dampening safe haven demand for bullion. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell $5.60 or 0.42% to $1,341.10 a troy ounce by 04:42 AM ET (08:42 AM GMT). Prices had rallied 1.44% in the previous session as investor sentiment was hit by a selloff in tech shares that sent Wall Street tumbling and resurgent worries over a trade war. Investors tend to seek out gold as a store of value during times of political or economic uncertainty. Tech shares have been hit in recent weeks amid concerns over Facebook (NASDAQ:FB)’s use of data, and uncertainty over the possible regulation of Amazon (NASDAQ:AMAZON). U.S. stock futures regained poise on Wednesday, pointing to gains at the open on Wall Street, despite losses in Europe and in Asia overnight

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