The metal initially slipped by as much as 1% in Asian trading, but later regained ground, with bullion for immediate delivery up 0.2%, according to Bloomberg. Meanwhile, spot gold was trading near $4,012 an ounce in London at 8:27 a.m. The recovery comes after Beijing revealed on Saturday that it would stop allowing certain retailers to fully offset the value-added tax (VAT) on gold sourced from the Shanghai Gold Exchange (SGE) and the Shanghai Futures Exchange (SHFE). The announcement triggered a swift ma ...