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Gold falls as cash rush outweighs U.S. stimulus cheer
[Bild: 899fb9020eab2bccb0891ef1862ff09d]

(Reuters) - Gold prices fell on Wednesday, after a steep rise in the previous session, as a flight to cash offset optimism around the U.S. government agreeing on a massive stimulus package to ease the economic burden of the coronavirus pandemic.
In volatile trade, spot gold fell 1% to $1,594.18 per ounce by 0743 GMT, after rising as much as 1.6% earlier in the day. The metal jumped more than 3% on Tuesday.
U.S. gold futures climbed 0.2% to $1,664.80.
"The recent development in gold prices has nothing to do with fundamentals, it (the metal) has de-linked from its safe-haven status... We are in unprecedented times and nothing can be justified," said CMC Markets analyst Margaret Yang Yan.

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