Gold futures declined on Tuesday on account of profit taking and also as the dollar strengthened against a basket of major currencies. Further, heavy stop-loss orders placed by momentum traders as prices broke below the key 200-day moving average too influenced the precious metal price.
Gold futures for June delivery settled down $27.20 at $1,300.30 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold fell 1.8 percent at $1,302.89 an ounce.
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