Gold fell initially in Asia before trading sideways and this range trading has continued in European trading. Gold edged higher Tuesday after hopes were dashed that Spain's bank bailout would be the panacea that would lead to alleviating the euro-zone debt crisis.
Gold was steady in trade in Asia until 0322 GMT when sharp selling saw gold fall 1.3% to $1,684.75/oz. in minutes. The fall may have been technical in nature after last week's 2% fall. The selling had the hallmarks of a large sell order or liquidation.