Gold prices rose on Tuesday as a tumble in US equities and worries about escalation of military action in eastern Ukraine helped bullion recover earlier losses driven by bullish US economic data. Bullion prices turned higher after Polish Foreign Minister Radoslaw Sikorski said Russia has gathered military forces at the border with Ukraine either to put pressure on the neighbouring country or to enter it.
"Gold is getting a boost as the S&P is now sliding after yesterday's rebound," said Thomas Capalbo, precious metals trader at brokerage Newedge. Spot gold was up 0.2 percent at $1,289.94 an ounce by 3:32 pm EDT (1932 GMT). US COMEX gold futures for December delivery underperformed spot prices, settling down $3.60 at $1,285.30 an ounce. Among other precious metals, silver fell 1.8 percent to $19.81 an ounce, having earlier reached $19.71, the lowest since June 18. Platinum eased 0.2 percent to $1,449.50 an ounce, while palladium fell 0.6 percent to $845 an ounce.
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