Gold fell for a third straight session Tuesday as weak US factory and housing data combined with disappointing corporate earnings TO trigger fund liquidation. Investors questioned the metal's ability to extend its decade-long rally after regulatory filings showed billionaire financier George Soros dumped almost his entire $800 million stake in bullion investment in the first quarter.
Spot gold fell 0.4 percent to $1,482.60 an ounce by 3:02 p.m. EDT (1902 GMT). US gold futures for June delivery settled down $10.60 at $1,480 an ounce. Silver gained 0.7 percent to $33.80 an ounce. It was now 32 percent below a sharp rally to a record high of $49.51 an ounce set on April 28. US futures activity was quieter than usual, with both gold and silver slightly below their 30-day norms, reversing a trend of heavier volume during recent sell-offs. The metal is now $100 or 6 percent below its record highs above $1,575 an ounce set earlier this month. Among platinum group metals, platinum rose 0.5 percent to $1,759.99 an ounce, while palladium was up 1.4 percent at $717.50.