Investing.com - Gold prices eased in Asia on Tuesday on profit-taking as markets await developments in the ongoing Russian standoff in the Ukraine.
On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded at $1,340.30 a troy ounce, down 0.09%, after hitting an overnight session low of $1,328.20 and off a high of $1,344.90.
Ongoing geopolitical tensions in Ukraine bolstered gold's appeal as a hedge on Monday.
Russia remained at odds with the West on how to end the standoff in Ukraine, while U.S. Secretary of State John Kerry declined an invitation to visit Russia for further discussions, which boosted gold prices.
The data extended the dollar's gains into Monday, as the Federal Reserve has said it will pay close attention to data when deciding on how quickly it will dismantle its monthly bond-buying program.
Fed bond purchases, currently set at $65 billion a month, soften the dollar by suppressing interest rates to spur recovery by encouraging investing and hiring.
Meanwhile, silver for May delivery was down 0.32% at US$20.843 a troy ounce, while copper futures for May delivery were down 0.37% at US$3.031 a pound.
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Gold prices ease in Asia on profit-taking as Ukraine events eyed
Published 03/10/2014, 10:25 PM
Updated 03/10/2014, 10:27 PM
Gold prices ease in Asia on profit-taking as Ukraine events eyed
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