Gold Prices Retreat as Chinese Investors Shift to Stocks
Gold is pulling back after reaching new highs of $2,685 last week, trading in the $2,630s on Monday.
Increased investment in Chinese equities and a brighter outlook for the property market are diverting capital from gold.
The CSI 300 index surged over 7.5% during Monday's Asian session.
A recent Fed rate cut of 0.50% reduced the opportunity cost of holding gold, supporting its price.
