Gold futures edge lower as US equities strengthen

Gold futures edged lower on Tuesday, tailing the rise in US equities as traders assessed data showing a gauge of US consumer confidence for April falling short of forecasts. Further dollar strengthened against a basket of major currencies ahead of the Federal Reserve's statement on monetary policy, which also influenced the precious metal price. Gold futures for June delivery settled down $2.70 to $1,296.30 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold rose 14 cents to $1,295.74 an ounce.