Gold futures edge lower on upbeat European retail sales

Gold futures edged lower on Tuesday after upbeat European retail sales defied expectations for a decline and expanded in March and weak physical demand made investors wary about the outlook. However, worsening situation in eastern Ukraine and weakness in the US dollar and Wall Street stocks restricted the losses. Gold futures for June delivery settled down 70 cents at $1,308.60 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold fell 0.2 percent at $1,307.51 an ounce.