US MIDDAY: gold falls

Gold fell on Monday following its biggest one-day gain of the year so far as equities steadied after Friday's losses and US consumer spending data for December beat expectations. The market was still encountering some safe-haven buying on the back of the protests in Egypt, but this was expected to be temporary, analysts said.
US gold futures for April delivery fell $12.70 to $1,329.00 an ounce. Gold has come under pressure this month from a raft of more positive US economic data, which has lifted appetite for assets seen as higher risk, such as stocks.