SINGAPORE (Commodity Online) : Gold prices dropped in Asian trade Tuesday after the greenback climbed against major currencies.
Gold for immediate delivery was seen trading at $1128.12 an ounce at 11.30 a.m Singapore time while June gold was at $ 1132.69 an ounce at the same time.
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The dollar gained 0.2 percent against a basket of major currencies on concern Greece will struggle to raise further funds, damping demand for European assets.
It steadied near 7-month highs against the yen, underpinned by a surge in U.S. Treasury yields, while the euro edged lower to $1.3470.
On Monday, spot gold closed at $1129.7 an ounce after hitting an intraday high of $1,133.20, its strongest level since March 8 while June gold settled at $1133.80 an ounce.
Thinly traded April gold gained $7.80, or 0.7 per cent, to settle at $1132.90. May silver rose 22.8 cents to settle at $18.118. May copper settled 1.3 per cent higher.
Gold gained 24 percent last year, while the dollar dropped 4.2 percent
Meanwhile, the world's largest gold-backed exchange-traded fund, SPDR Gold Trust , said its holdings stood at 1,129.823 tons as of April 5, unchanged from the previous business day.
