Gold resumes decline after yesterday's reprieve

Gold prices gave up ground anew on Tuesday after managing to rebound from five-month lows yesterday, with the dollar retreating timidly as well. 

Dollar closed down yesterday despite marking five-month highs against a basket of major currencies, as traders collect profits. 

As for gold, it managed to distant itself from five-month lows before returning lower today amid sideways trading. 

Asian stock indices declined today, but the escaping liquidity failed to prop up gold as a traditional safe haven due to weak outlook. 

Gold retreated to $1,290.92 an ounce from the opening of $1,292.87, with an intraday low at $1,289.91, and a high at $1,293.44.