RTRS: Gold rebounds on firmer euro, upside seen limited
SINGAPORE: Gold rebounded on Tuesday, after falling more than 3 per cent the previous day, as the euro bounced against the dollar but weak equity markets and falling oil prices could limit further gains.
Gold was trading at $732.85 an ounce, up $3.25 from New York's notional close on Monday, when it hit a session low of $706.10 an ounce. It struck a 13-month low of $680.80 last week.
The euro edged up to $1.2448. Japan's Nikkei average edged down 0.3 per cent on Tuesday, a day after hitting a 26-year closing low.
US crude futures fell for a third day to below $63 a barrel on Tuesday, as global recession concerns continued to dent demand.
Platinum was trading at $769.50 ounce, down $3 from New York's notional close.
New York gold futures fell $8.8 an ounce to $734.7.
Precious metals prices at 0036 GMT Metal Last Change Pct chg YTD pct chg Turnover .