Gold futures ended lower on Tuesday snapping three day winning streak as the US currency gained momentum weighing on yellow metal investments. The uncertainty about US fiscal stimulus and reports from International Monetary Fund stated that it is forecasting a less severe recession than it predicted in June, also curtailed safe haven appeal of the bullion.
Gold futures for December delivery declined by $34.30, or 1.8%, to settle at $1,894.60 an ounce on the Comex division of the New York Mercantile. Spot gold fell 1.7% to $1,890.01 per ounce.