Sterling, euro gold hits multi-month lows

The yellow metal fell as growing confidence in the outlook for markets dented safe-haven buying

LONDON (Reuters)  - 

Gold priced in euros and sterling slipped to multi-month lows on Tuesday as growing confidence in the outlook for the financial markets dented buying of the metal as a haven from risk.

Euro-priced gold XAUEUR=R slipped to a near 12-week low of 905.45 euros an ounce, down from 909.65 euros late on Monday. Gold priced in sterling XAUGBP=R reached a three-month low of 758.43 pounds an ounce, against 763.07 pounds.

Gold denominated in both currencies hit record highs in early June as concern over euro zone sovereign debt levels fuelled buying of bullion as a safe store of value.

(Reporting by Jan Harvey; Editing by Alison Birrane)

© Thomson Reuters 2010 All rights reserved

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