Gold prices headed lower Tuesday as global stocks staged a rebound and the dollar strengthened, factors that helped to dull bullion’s appeal.
June gold on Comex traded $4.90, or 0.4%, lower at $1,272.40 an ounce, after booking a modest rise on Monday. The day’s early trading put the yellow metal on pace to log its lowest settlement since May 2, according to FactSet data.
Gold’s gains had been supported by increased U.S.-China trade tensions and worries about other political uncertainties, including the threat of military escalation between Iran and the U.S. and a disorderly exit from the European Union by Britain.
Source : Marketwatch