Gold slips from six-week high

LONDON, Mar 27 (Reuters): Gold slipped on Tuesday as risk appetite revived in global financial markets, lifting equities, but the precious metal was not far off a six-week high hit overnight as investors remained cautious over political tensions between Russia and the West.
Stock markets jumped in response to reports the United States and China were negotiating to avert a trade war and this dented the appeal of gold, seen as a safe haven.
The dollar edged up versus a currency basket - making dollar priced gold costlier for non-U.S. investors - though it was not far off a five week low hit earlier as returning risk appetite dented investor appetite for the U.S. currency.
"There's going to be a few months of talks before uncertainty around global trade situation can be erased, and in the meantime gold will at times benefit," said Simona Gambarini, commodities economist at Capital Economics.
"In the short term we definitely see gains (for gold)."
Spot gold was down 0.3 per cent at $1,348.65 per ounce at 1023 GMT, after touching $1,356.66 earlier in the session, its highest since Feb. 16.