LONDON—The spot price of gold eased despite what traders described as persistent physical demand and solid interest from medium- to long-term-orientated investors.
Bullion banks are reporting above-average demand from Indian buyers, heading into the country's traditional wedding and festival season. There also is interest from Chinese investors and demand for coins in Europe, they said.
Ahead of the New York day, spot gold was off $4.50, or 0.3%, at $1,605.20 a troy ounce.
"We have seen plenty of short-term moves in both directions this week, but prices have shown few signs of returning to last week's highs any time soon," a London-based trader said.
Among other metals, spot silver fell 21 cents, or 0.7%, to $29.72 an ounce, while spot platinum traded fell $4, or 0.3%, to $1,522 an ounce and spot palladium fell $3, or 0.5%, to $614 an ounce.
Write to Rhiannon Hoyle at rhiannon.hoyle@dowjones.com
