02.06.202010:54:00UTC+00Gold Little Changed In Lackluster Trade

Gold prices were little changed in lackluster trade on Tuesday as investors weighed prospects of a post-pandemic economic recovery against deteriorating U.S.-China relations and violent protests in the United States.

Spot gold slid 0.1 percent to $1,738.55 per ounce, while U.S. gold futures were little changed at $1,749.25.

As many businesses reopen across the world, investors are pinning hopes on economic recovery and corporate earnings growth.

U.S. manufacturing activity eased off an 11-year low in May and China's factory activity unexpectedly returned to growth in the month, suggesting that the worst of the economic downturn from the coronavirus pandemic was behind.

U.S.-China tensions persist, with reports suggesting that Chinese state-owned agricultural companies have been ordered to pause purchases of U.S. farm goods, including soybeans.

Meanwhile, U.S. President Donald Trump threatened to deploy the military to quell civil unrest erupting across the nation over George Floyd's death.