Gold saw its biggest one-day fall in three weeks on Tuesday as global equities rallied on easing political uncertainty in Britain and hopes for more economic stimulus, which in turn curbed demand for assets perceived as safe havens.

Spot gold fell as much as 1.9 % to $1,329.75 an ounce and was down 1.6 pct at $1,332.86 by 2:20 p.m. EDT (1820 GMT).

The most active U.S. gold futures for August delivery settled down 1.6 % at $1,335.30 per ounce.

Gold has gained about $100 an ounce since Britain voted recently to leave the European Union, with worried investors piling their cash into safe-haven assets. 

At the MCX, gold futures for August 2016 contract is trading at Rs 31,177 per 10 grams, up by 0.44 %, after opening at Rs 31,100, against a previous close of Rs 31,039. It touched the intra-day high of Rs 31,199.