By Virginia Harrison, MarketWatch
SYDNEY (MarketWatch) — Gold futures retreated in electronic trade on Tuesday, pressured by a modestly stronger dollar despite safe-haven support from ongoing unrest around the globe.
Gold for April delivery (GCJ11 1,420, +0.10, +0.01%) fell $1.00 or 0.1% to $1,419 an ounce, while the June contract (GCM11 1,421, -0.20, -0.01%) , which has the most outstanding contracts, slipped $1.60 or 0.1% to $1,419.70 an ounce.
Gold continued to get support from safe-haven appeal. While political unrest simmered in North Africa and the Middle East, Japan’s struggle to contain a nuclear crisis continued into its third week.
But Analysts at MF Global said other factors were weighing on metal prices.
By Virginia Harrison, MarketWatch
SYDNEY (MarketWatch) — Gold futures retreated in electronic trade on Tuesday, pressured by a modestly stronger dollar despite safe-haven support from ongoing unrest around the globe.
Gold for April delivery (GCJ11 1,420, +0.10, +0.01%) fell $1.00 or 0.1% to $1,419 an ounce, while the June contract (GCM11 1,421, -0.20, -0.01%) , which has the most outstanding contracts, slipped $1.60 or 0.1% to $1,419.70 an ounce.
Gold continued to get support from safe-haven appeal. While political unrest simmered in North Africa and the Middle East, Japan’s struggle to contain a nuclear crisis continued into its third week.
But Analysts at MF Global said other factors were weighing on metal prices.
