The most active gold contract for June delivery lost 7.4 dollars, or 0.57 percent , to settle at 1281.1 dollars per ounce .
The U.S. Federal Housing Finance Agency on Tuesday reported that U.S. home prices rose a seasonally adjusted 0.6 percent in February , and up 6.9 percent from the same period last year .
National Housing Association of Realtors ( NAR ) said that although the sale of the house " existing homes " ( homes that have been previously owned or homes that have been built previously for a month or also known as home resales ) fell 0.2 percent in March to the adjusted annual rate seasonal 4.59 million units , low inventories have increased the average selling price of existing homes up to 198 500 U.S. dollars in March , up 7.9 percent year- on-year .
In addition , the Richmond Fed manufacturing index has come back into positive territory in April , increased to positive from negative seven seven in March .
U.S. equities also rose on Tuesday, supported positive economic data , which in turn weakens the price of gold .
Gold holdings of SPDR Gold Trust , the biggest gold -based ETF in the world , fell to 792.14 tonnes on Monday from 795.14 tonnes on Thursday and from 806.82 tonnes on Tuesday .
Market analysts believe that gold's decline below the current levels can trigger a rapid downward trend , with the next landing point around 1,240 U.S. dollars .
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While silver for May delivery was up one cent , or 0.05 per cent to close at 19.361 dollars per ounce . Platinum for July delivery dropped 0.4 dollars, or 0.03 percent, to end at 1400.3 dollars per ounce .