Gold prices hit 2-1/2-week low as Middle East tensions ease

A worker polishes gold bullion bars in Australia. — AFP

GOLD prices touched a more than two-week low on Tuesday, dragged by easing concerns of an escalation in the Middle East crisis and profit-taking, while investors awaited key data for fresh clues on the U.S. interest rate trajectory.

Spot gold fell nearly 1% to $2,306.31 per ounce, as of 0616 GMT, after hitting its lowest since April 5 earlier. U.S. gold futures slipped 1.1% to $2,319.80.