Gold prices retreated on Wednesday as investors trickled back into riskier assets betting that risks of contagion from the global banking crisis have been curbed for now.

Spot gold was trading 0.6% lower at $1,961.80 per ounce, after rising 1% on Tuesday. US gold futures slipped 0.5% to $1,963.10.

Spot silver fell 0.5% to $23.15 per ounce, platinum lost 0.1% at $962.05, and palladium edged down 0.3% to $1,414.64.

Source: Qatar News Agency