2020.05.0510:51:00UTC+00Gold Prices Ease As Countries Ease Lockdowns

Gold prices fell slightly on Tuesday amid improved risk appetite after several countries across the world eased Covid-19 lockdown restrictions.

Spot gold eased 0.1 percent to $1,700.22 per ounce, while U.S. gold futures were down 0.4 percent at $1,706.75 an ounce.

Italy finally eased lockdown restrictions with strict guidelines after two months. The country has allowed 4.5 million people to return to work but not without masks and gloves. Restaurants, parks and public transports have been re-opened too.

Spain continues to be in a state of lockdown, but easing of restrictions have been announced across the country.

California Gov. Gavin Newsom said some businesses will reopen as early as Friday, with conditions. Andrew Cuomo of New York has outlined a phased reopening in the U.S. state hardest hit by the Covid-19 pandemic.

India started reopening its factories after spending more than a month in strict lockdown. Hong Kong may soon reopen cinemas and gyms.

The global case tally for the coronavirus climbed to 3.59 million today, according to data aggregated by Johns Hopkins University. The death toll rose to 251,832. The U.S. has the highest case toll at 1.18 million and the highest death toll at 68,934.

U.S. President Donald Trump has promised a "conclusive" report on the U.S. investigation into China's handling of the coronavirus outbreak and increased his projection for the total U.S. death toll to as many as 100,000.