During yesterday's trading session, gold prices fell slightly as traders were still looking forward to US economic data and focusing on the situation in the Middle East.
According to Richard Snow, Strategist at DailyFX, gold prices show signs of falling due to calls for efforts to reduce escalating tensions in the Hamas-Israel conflict.
Reuters quoted Jim Wyckoff, senior analyst at Kitco Metals, as saying some took profits earlier in the session and then traders came in to buy when prices fell.
Gold prices have increased about 9% in the past two weeks, reaching a 5-month high of 1,997.09 USD on October 20. Safe haven demand increased afterward, investors sought to hedge risks. The conflict between Israel and the Islamist group Hamas will spread.