Reuters reported that US gold and copper futures fell on profit taking on Tuesday as the dollar rose against the euro due to Greek debt jitters.

Fundamentals;
1. Gold prices dropped towards USD 1,710 an ounce in line with a softening euro as traders awaited a breakthrough on talks over a second bailout deal for Greece with its leaders fighting to avoid a chaotic debt default.

2. Data released by the Hong Kong Census and Statistics bureau showed that Hong Kong's shipments of gold to mainland China in 2011 more than tripled from a year earlier, confirming China's rapidly growing appetite for bullion.

3. Copper eased on concerns over sluggish demand from top consumer China and renewed worries about the eurozone debt crisis.

(Sourced from Reuters)