Gold pulled back in spot trading on Tuesday as a stronger dollar weighed on prices, with investors holding off on fresh positions ahead of the Federal Reserve’s next monetary policy decision.
Spot gold dropped 0.7% to $4,044.81 per ounce, reversing roughly half of Monday’s 1% gain. US gold futures for August delivery fell 0.8% to $4,045.40.
Other precious metals also declined. Silver shed 1.9% to $57.30 per ounce, platinum fell 1% to $1,605.14, and palladium dropped 1.6% to $1,271.09.
