Gold steadied on Tuesday, clawing back early losses, as a rally in European stocks lost steam and U.S. stocks opened flat, as economic data painted a mixed picture of the economy.
Gains in the dollar held the metal in check, with a report that the German central bank would back monetary easing measures driving the U.S. unit higher against the euro.
The single currency hit a one-month low versus the dollar.
Spot gold was last flat at $1,296 an ounce, having earlier slipped as low as $1,288.64, while U.S. gold futures for June delivery rose 0.1 percent to $1,297 an ounce.
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