Precious-Gold fell from three-week high as the remarkable progress in U.S. data damped demand on safe-haven bullions.
U.S. retail sales figures tracked a series of upbeat data, providing hopes recovery in the world’s biggest economy is strengthening.
Retail sales posted their largest gain in 1-1/2 years in March with a 1.1 percent advance from a revised of 0.7 percent.
Data due later in the day may signal U.S. empire manufacturing soared for a second month in April.
In fact, investors’ attention have shifted from the geopolitical tensions in Ukraine to U.S. data as they aim to gather clues about Fed monetary outlook.
Whilst Fed Chairman Janet Yellen hinted on March 19 to the possibility of raising interest rates in six months after the end of bond purchases withdrawal, minutes of last month meeting did not include discussion about holding interest rates near its record low for a considerable time.
As of 12:45 GMT, Fed`s Yellen will speak by video to financial markets conference.
On the political side, concerns from Ukraine remained as Armed pro-Russian separatists seized more buildings in eastern Ukraine on Monday.
The European Union said it may impose strong sanctions on Russia as soon as next week unless the negotiations in the coming few days show fruitful signs.
Meanwhile, gold is trading around $1310.41 an ounce after hitting a high of $1328.02 and a low of $1310.14. The breach of Daily SMA 50 at $1316.77 paved the way for the drop, where support may be found at $1306.50, which represents Daily SMA 20.
The U.S. dollar extended its gains versus a basket of major currencies to hover around 79.90 after hitting a low of 79.81.
Crude oil for May’s delivery slipped to trade around $103.25 a barrel from the session’s opening of $103.57.