Gold little changed on Tuesday

Gold prices slightly changed today after falling to the lowest in nearly one month yesterday. Spot gold is traded at $1103.21 after recording a high of $1106.25 and a low of $1101.10.

Yesterday, gold gained $5.30 or 0.48% to close at $1102.40 an ounce. Gold Price was setin London on Monday at $1097.25 per ounce during the PM fixing inclining from $1104.25 at the AM fixing. SPDR gold trust, the world's largest exchange-traded fund backed by bullion, remained at 1,115.51 metric tons on March 22.

The precious metal remains under pressure as the U.S. dollar strengthened against majors which is reducing the appeal of the shiny metal as an alternative investment. The dollar index, a gauge of the dollar strength against six major currencies, rebounded to 80.81 from yesterday's drop where it closed at 80.52 while it is expected to find next resistance at 81.30.

Precious-Gold gained support in the previous period on worries persisting in Greece, but these woes actually gave a boost to the U.S. dollar which reduced demand on the yellow metal as an alternative investment. Concerns are increasing that Greece may not receive a bailout from the EU ahead of the European Summit this week. However, gold may get technical support at $1095.00 then $1092.00.

On the other hand, the metal failed to get any support from oil which slipped today to $81.37 a barrel from the day's opening at $81.77, while European and Asian shares advanced.

With regard to other precious metals, platinum edged down to $1602.00 from the day's opening at $1607.50; palladium soared to $457.50 from $457.20; and silver declined to $16.91 from $16.94, as of 08:55 GMT.