Gold futures ended lower Tuesday as global stocks staged a rebound and the dollar strengthened a bit, dulling bullion's appeal and sending prices to the lowest finish in almost three weeks.
June gold on Comex lost $4.10, or 0.3%, to settle at $1,273.20 an ounce, after booking a modest rise on Monday. The yellow metal logged the lowest most-active contract settlement since May 2, and turned slightly lower week to date, according to FactSet data.
Gold's recent 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.
Gold futures managed to pare some of its earlier losses after data on U.S. existing-home sales showed an adjusted annual rate of 5.19 million in April, 0.4% lower than March.
Source : Marketwatch