• Gold hits its lowest in nearly two weeks on Monday after centrist candidate Emmanuel Macron won the first round of French presidential election, boosting stocks and sparking a sell-off in the safe-haven bullion.
Spot gold was down 0.7% at $1,275.46/oz by 3.42am GMT, after falling to a low of $1,265.90 earlier in the session. US gold futures were down nearly 1% at $1,277.30/oz.
• "Gold prices have fallen sharply this morning due to the improvement in risk sentiment," said OCBC analyst Barnabas Gan.
• "Macron and Marine le Pen have emerged as the two key winners of the French elections. It does remove some of the suspense and risk-off sentiment we saw late last week."
In France, Macron took a big step towards the presidency on Sunday by winning the first round of voting and qualifying for a May 7 runoff alongside far-right leader Le Pen.
• "With Macron showing good results, the safe-haven buying dried up pretty quickly and I think this is the reason behind gold selling off this morning," said ANZ analyst Daniel Hynes.
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