Live Metals Prices Commodity Trading Data & Prices 4 Week Free Trial. Signup Today. www.lmelive.com Gold eased on Wednesday from the previous session's record high as gains in equity markets and commodities reflected increased appetite for assets seen as higher risk. Spot gold was bid at USD 1,224.75 an ounce at 1540 GMT, against USD 1,233.63 late in New York on Tuesday. U.S. gold futures for August delivery eased USD 18.20 an ounce to USD 1,227.4. Prices touched a record USD 1,251.20 an ounce on Tuesday as comments from Fitch that Britain faced what it called a formidable challenge in cutting its budget deficit fuelled fears over the outlook for European growth. Watch CNBC-TV18 live only on MYTV >> "Risk appetite has returned a bit after people parked their money in gold to try and shelter from the storm," said Daniel Major, an analyst at RBS Global Banking and Markets. "As extreme risk aversion tails off, gold is going to suffer ... If we get some degree of normality returning to the markets, gold safe-haven buying is likely to drift off." European shares rose on Wednesday after falling for three sessions as better-than-expected Chinese export data for May boosted hopes for economic recovery. A rise in US stocks pushed the Dow Jones industrial average above the 10,000 mark. The euro gained some stability on options demand, recovering from its recent four-year low versus the dollar, but analysts expected only a brief respite as strains in euro zone bond markets hurt sentiment. Among other commodities, oil rose nearly 3% as reports of stronger Chinese exports boosted expectations for raw materials demand. Industrial metals like copper, lead and zinc also climbed. The gold market remained supported by strong investment interest, with holdings of the world's largest gold-backed exchange-traded fund, New York's SPDR Gold Trust, rising to record highs at 1,298.53 tonnes on Tuesday. The 12-tonne rise in the trust's holdings reflects an inflow of some USD 481 million at today's prices.

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