CP UPDATE: GOLD DECLINES BY PERCENT ON TUESDAY

Gold futures fell by around a percent on Tuesday as equity market rally driven by encouraging US home sales and consumer confidence data decreased bullion's safe-haven appeal. The metal continued to feel technical selling pressure which stopped the recovery after its failure to break above its 14-day moving average near $1,400 an ounce.    

Gold futures for June delivery settled down $7.70 at $1,378.90 an ounce on the Comex metals division of New York Mercantile Exchange. While spot gold was down 1% to $1,380.81 an ounce.

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