Gold Flat at $1,295.65 an Ounce on Lukewarm Market Performances

Gold remained flat at $1,295.65 per ounce on Tuesday, according to Reuters. European stocks, which had been rallying, lost momentum, and U.S. stocks were static on economic data that gave a mixed look of the country’s economy. However, the dollar gained on Tuesday, which helped keep the price of gold slightly lower.

“What’s pointing to lower prices are the stronger equity markets, the firmer dollar,” Commerzbank analyst Daniel Briesemann told Reuters. “(But) it looks as though the gold price has found some support around these levels. It seems to be a level at which buyers are stepping in, seeing the price as a buying opportunity.”

U.S. gold futures for June delivery rose 30 cents to trade at $1,296.10. an ounce.