Gold steadied as investors weighed a decline in global equities, unease over lofty tech valuations and fading expectations of an interest-rate cut in the US.
Bullion was trading around $4,070 an ounce, having ended the previous session up 0.6%. A high-stakes earnings report from Nvidia Corp. due Wednesday will test investors’ nerves over stocks linked to artificial-intelligence developments. While gold often performs well when investors seek refuge from market turmoil, it can also suffer in the short term as traders are forced to unwind leveraged positions.