Gold falls on speculation recent gain may reduce purchases

Gold traded in London declined on Tuesday trading session falling from the strongest level in over three months amid speculation that recent gain of the precious metal may reduce physical purchases of the bullion. Gold for settlement in February slipped 0.7% to $1,319.42 an ounce as of 9:10 a.m. London time after it recorded the largest level since October 31 at $1,332.45 earlier today.