By Cynthia Lin
NEW YORK (MarketWatch) -- Gold futures edged lower on Tuesday after the U.S. three-day weekend, but remained above its key mark of $1,200 an ounce. The precious metal for August delivery shed $2.10, or 0.17%, to $1,205.60 an ounce. While demand for gold as a "safe haven" has dwindled since its June highs, jeweler demand from India has recovered, according to Commerzbank Commodity Research. "Indian gold buyers...regard the current price level as a good buying opportunity. This should prevent prices from falling much below $1,200," analysts said in a note.
