Yellow metal falls amid easing debt woes
Gold prices ticked a little down today with Greece continues to negotiate over budget reforms with its international and European creditors, while Asian markets are set to re-open Wednesday. Earlier on Tuesday, the yellow metal consolidated, attracting more demand as a haven asset after IMF refused proposed reforms from Greece in a bid to extend its bailout program. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell 0.14 per cent to $1,312.10. The commodity futures turned higher on Monday to hit the key $1,300 level, after U.S. data showed that existing home sales declined more than expected in March. The latest figure reached its lowest levels in two years, fuelling concerns over the housing market. Gold remained under pressure during the week amid growing predictions for the Federal Reserve to hike interest rates at July meeting. This would be bearish for the gold, as the metal struggles to beat yie