Gold futures declined in Tuesday trade amid a report that signaled second-quarter demand hit its lowest level in six years.
On Monday, gold benefited from appetite for shelter, which helped it rebound off five-year lows, following fear-driven trading in the wake of an 8.5% plunge in the Shanghai Composite Index early Monday, the Asian indexes steepest drop in about eight years.
Comex gold for December delivery last traded at $1,096.40 an ounce, 0.06% lower.
The prices were also affected after metal
consultancy GFMS issued a survey showing that demand for the yellow metal in the second-quarter fell to its lowest level since
2009, The Wall Street Journal reported.
Demand for physical gold fell by 14% from the same
period in 2014, appetite for coins and bars dropped 12% and jewelry
demand declined by 9%, according to the survey.
Elsewhere in the metal trading, platinum for October delivery lost $10.10, or about 1%, at $978.80 an ounce, after settling at $988.90 an ounce Monday.
September palladium added $4.15, or 0.7%, at $617.25 an ounce. It finished at $613.10 an ounce in the previous session.
