Gold futures edge higher on subdued global equity markets

Gold futures edged higher on Tuesday on account of continuing concerns over the unrest in Ukraine and subdued global equity markets, amid reports of a notable drop in gold demand from China last quarter. Further, the traders looked to speeches this week from various Federal Reserve officials for clues on the precious metal's next direction too supported the upside. Gold futures for June delivery settled up 80 cents at $1,294.60 per ounce on the Comex division of the New York Mercantile Exchange. While spot gold rose 0.2 percent to $1,294.29 an ounce.