Gold traded near intraday lows on Tuesday afternoon with selling accelerating on low volumes as the euro lost further ground ahead of a much-anticipated European summit. The pressure started on Monday after bullion failed to break through key resistance at $1,600 per ounce, sending prices below near-term technical support levels.
Spot gold was down 1.44 percent at $1,569.26 an ounce at 3:30 pm EDT (1930 GMT). US gold futures for June delivery settled 0.76 percent lower at $1,576.6, off an intraday low of $1,568 per oz.
The platinum price, which rose as much as 24 percent on the year because of the strike that spanned February and March, traded down 1.40 percent on the day at $1,440.75 an ounce. Yet platinum remains the best-performing precious metal of 2012, with a gain of 4.5 percent, compared with a rise of 1.1 percent in gold and a loss of 6.3 percent in palladium. Palladium was down 0.57 percent on the day at $605.72 an ounce, and silver down 1.19 percent at $28.12 an ounce.
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