Gold futures closed lower Tuesday after a strong rally sparked by tensions between Iran and the U.K. over the seizure of 15 British seamen.
Gold for April delivery closed down $1.40 at $662.50 an ounce on the New York Mercantile Exchange.
"Another largely sideways day has been seen in the precious metals despite a weaker than expected confidence reading from the New York Conference board," said James Moore, metals analyst at TheBullionDesk.com.
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Gold Price Lower on Irainian-UK Scandal
Gold futures closed lower Tuesday after a strong rally sparked by tensions between Iran and the U.K.
