Gold futures decline on rising global equity markets

Gold futures declined on Tuesday on rising global equity markets with investors opting for the riskier equity assets following positive US housing and consumer confidence data. Moreover developments in Ukraine and a strengthening dollar against a basket of major currencies also weighed on the yellow metal price. Gold futures for June delivery settled down $26.20 at $1,265.50 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold fell 2 percent at $1,266.75 an ounce.