Representational file photo.
Washington: Gold prices fell on Tuesday by more than one percent after the dollar strengthened, increasing pressure on safe-haven assets, following US President Donald Trump's softened stance on trade with the European Union.
Spot gold dropped 1.6 percent to 3,289.93 USD per ounce, while US gold futures fell 2.3 percent to 3,287.80 USD.
Prices also declined yesterday (Monday) after Trump backed down from his threat to impose new tariffs on the European Union next month, setting July 9 as a deadline to allow time for trade negotiations.
As for other precious metals, spot silver fell 1.4 percent to 32.88 per ounce, platinum dropped 1.1 percent to 1,073.22 USD, and palladium lost about 1.3 percent to 974.50 USD.
