Gold Slides With China’s Central Bank, Europe Equities in Focus

Gold fell after its biggest weekly advance in three months, with central bank purchases and European equities in focus.

Bullion traded near $2,359 an ounce after rallying by almost 3% last week. The People’s Bank of China didn’t add to its reserves for a second consecutive month in June, according to the World Gold Council. That may be a cause of concern for investors, said Giovanni Staunovo, a research analyst at UBS Switzerland AG.

While bullion declined Monday, European stocks trimmed losses as traders digested the unexpected result of France’s snap election.

In the lead-up, investors were ...