May 5 (Reuters) – Gold prices slipped on Tuesday as the U.S. dollar strengthened and risk appetite among investors improved on optimism over easing of coronavirus-driven lockdowns by major economies.

Spot gold was down 0.2% to $1,698.92 per ounce at 0924 GMT. U.S. gold futures fell 0.3% to $1,707.50 per ounce.

“The gradual reopening of various economies is the biggest driver right now which is lifting sentiment. Gold seems to be in consolidation mode at the moment and very sensitive to dollar moves,” OANDA analyst Craig Erlam said.

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