By Polya Lesova, MarketWatch NEW YORK (MarketWatch) -- Gold futures fell 2% early Tuesday, giving up gains made in the previous session, as other metal futures registered steep losses. Silver, platinum and copper futures all tumbled more than 3%. Gold for December delivery dropped $12.60, or 2%, to $733.90 an ounce in electronic trading on Globex. "Grim recessionary statistics continue to roll in from all corners of the world, thus undermining any fledgling rallies," said Edward Meir, an analyst at MF Global, in a research note. On Monday, December gold had climbed $12.30, or 1.7%, to close at $746.50 an ounce on the New York Mercantile Exchange, as China's $586 billion economic-stimulus package helped fuel gains among most commodities. However, China's export growth eased in October, adding to mounting evidence the mainland economy could be headed for a major slowdown. Exports grew 19.2% from October 2007 to $128.3 billion, decelerating from a 21.5% increase in September, data showed. See full story. In the United Kingdom, British retail sales tumbled to a three-year low and transactions in the housing market slowed to a near standstill in October. Read more. "With recessions only beginning in all major economies and the likelihood that recessions will be protracted and deep, safe-haven demand for gold is set to remain robust," said Mark O'Byrne, a director at Gold & Silver Investments Ltd., in a note. Also on the Globex, December silver futures fell 42 cents, or 4%, to $9.80 an ounce and January platinum futures dropped $33.30, or 4%, to $826.60 an ounce. December palladium fell $3.10 to $218.90 an ounce and December copper futures fell 6 cents, or 4%, to $1.69 a pound. Elsewhere on the commodity markets, crude oil for December delivery fell nearly 4%.

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