- Comex gold struggled out of the gate on Tuesday, with concerns over Indian gold demand and Chinese economic growth weighing on sentiment.

- Gold futures for April delivery on the Comex division of the New York Mercantile Exchange were last down $15.60 at $1,651.8 per ounce. Trade has ranged from $1,641.20 to $1,664.90.

- Commodity prices are generally trending lower on worries that Chinese industrial demand might be slowing. Ian Ashby, president of BHP's iron ore division, reportedly said that Chinese iron ore year-on-year demand growth could fall to single digits as its economy cools off in the coming months. Comex copper for May delivery was down 8.2 cents at $3.8265 per pound, while light sweet crude (WTI) oil futures on Nymex were at $107.36 per barrel, down $1.20.

- Elsewhere, anger continues to grow in India after the government announced plans to double import duties on gold coin and bars to four percent in an attempt to reverse the nation's swelling trade imbalances. An estimated 90 percent of the nation’s 300,000 jewellers have closed their shops for a fourth day in protest.

- In wider markets, the dollar, reacting to the downgraded view on Chinese growth, was last about one third of a cent stronger at 1.3196 against the euro, while the Dow Jones industrial average and S&P 500 opened down 0.56 percent and 0.58 percent respectively.

- In another slow day for data, US new building permits rose 5.1 percent to a seasonally adjusted annual rate of 717,000 last month, beating forecasts of 690,000 and from January's 682,000 reading. Meanwhile, housing starts came in at 698,000, down 1.1 percent from the previous month but largely in line with expectations.

- As for the other precious metals, Comex silver for May delivery was last down 60.5 cents at $32.350 per ounce, while platinum for April delivery on the Nymex was $27.80 lower at $1,657.40 and June palladium was at $699.00, down $9.40.


(Editing by Mark Shaw)

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