Gold prices edged down on Tuesday morning trade in Asia.
Demand for gold, a safe haven asset, has increased over the past couple of weeks but expectations of a strong recovery in gold prices may have been premature, despite increased buying in Asian markets, most notably India.
Gold futures for December delivery were trading down 0.06% at $1,999.10 per troy ounce at 10:12 PM ET (02:26 GMT) on the Comex division of the New York Mercantile Exchange.
Gold futures have been hovering around the $1,200 mark, crossing above that threshold on Sept. 10 to top out at $1,203.20 before beginning a week low climb down that put the yellow metal under that mark again overnight.
Gold prices fell below $1,200 in mid-August, when they hit what was then an 18-month low on August 18, as investors looked to continued bull runs in U.S. equity markets and a strong dollar. Gold is now down 8.20% so far this year and down 0.98% in the last month.
Silver futures for December delivery were also down 0.08% to $14.165. Silver is down almost 17% this year.
