Gold futures decline on sluggish US retail sales

Gold futures declined on Tuesday after investors shrugged off sluggish US retail sales and avoided gold on expectations for the European Central Bank to loosen policy in June, which sent the US dollar rising. Besides, uncertainties in the ongoing geopolitical tensions in Ukraine continued with pro-Russian separatists now seeking to become a part of Russia, too influenced the precious metal price. Gold futures for June delivery settled down 0.16 percent at $1,293.70 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold rose 0.2 percent to $1,295.00 an ounce.