By Chris Oliver
HONG KONG (MarketWatch) -- Benchmark gold futures eased back below the $1,600-an-ounce level during East Asian trading hours Tuesday, moving in parallel with a general downtrend among regional markets. Gold for February delivery GC2G -0.55% fell to $1,595.00 an ounce in electronic trade on the Comex, down from $1,609 midday Monday. The decline came amid a day a thin trading volume, with many markets closed for holidays. The losses came with most equity markets trading lower in Asia, and despite a recent softening for the dollar index DXY -0.19% , which slipped to 79.874, after trading at 79.990 at the end of last week.
