Gold prices declined slightly in early Asian trading due to a possible technical correction. Previously, the overnight settlement price of gold contracts on the New York Stock Exchange rose 2.8% in recent months. However, the downside of gold prices may be limited by geopolitical risks in Latin America. Spot gold fell 0.1% to $4,442.34 an ounce. Kudotrade's Konstantinos Chrysikos said that unexpected developments in Venezuela have heightened concerns about heightened tension in Latin America. “A resurgence of tension or more action in the region could drive up demand for gold and other safe-haven assets. Investors are likely to remain sensitive to the next development of the U.S.-Commission relationship,” the head of customer relationship management added.

Gold prices declined slightly in early Asian trading due to a possible technical correction. Previously, the overnight settlement price of gold contracts on the New York Stock Exchange rose 2.8% in recent months. However, the downside of gold prices may be limited by geopolitical risks in Latin America. Spot gold fell 0.1% to $4,442.34 an ounce. Kudotrade's Konstantinos Chrysikos said that unexpected developments in Venezuela have heightened concerns about heightened tension in Latin America. “A resurgence of tension or more action in the region could drive up demand for gold and other safe-haven assets. Investors are likely to remain sensitive to the next development of the U.S.-Commission relationship,” the head of customer relationship management added.