Gold fell slightly on Tuesday after rising to a near two-week high the previous day, but buying interest persisted at lower levels as investors slowly regained confidence in the precious metal.
Spot gold
"The tendency is to buy on dips, mainly from investors. We should test the upside and make our way up to $635 to $637," said a dealer in Singapore.
"For today, we can put the trading range at between $620 and $635," he said.
Gold was quoted at $626.00/627.00 late in London on Monday, when it had risen to as high as $627.80 an ounce, its highest since Jan. 4, on the back of technical buying and a slight dip in the dollar against the euro.
