Gold prices supported by weak equities

Gold prices remain well supported on Tuesday due to the weakness in the equity markets across the globe. The US markets dipped yesterday, despite of the absence of fresh fundamental triggers. Gold is trading 0.33% higher at USD 1234.10/Oz, although prices are almost unchanged compared to yesterday’s quote in early European session. The DJIA ended 1.35% lower yesterday while the Asian markets are trading mixed. The Asx has gained 1.01%, while the Hang Seng is down by 0.18%. The Chinese markets are trading 0.40% lower, while the Indian equities have recovered the early slump to trade flat at the time of writing. Meanwhile, the Japanese index Nikkei is leading the fall with the losses of more than 2%, according to fxstreet.com