Spot gold was up 0.2 % at $1,265.95 an ounce by 0638 GMT, after hitting an early low of $1,259.51, its weakest since April 28. Bullion fell 1.9 % on Monday, its sharpest single-day drop since March 23.

                   U.S. gold for June delivery was up 0.1 % at$1,268 an ounce. Gold is still up 19 % this year as expectations for a near-term increase in U.S. interest rates had eased. Contact this no:- 9827808090

The bank raised its three, six and 12-month forecasts to $1,200, $1,180, and $1,150 an ounce from $1,100, $1,050 and $1,000 respectively, analysts stated in a report dated May 10. Gold at present trades around $1,270.