Gold prices fell on Tuesday as investors booked profits following a more than 2% rise in bullion during the previous session, while a stronger U.S. dollar added downward pressure on the yellow metal.
Spot gold dropped 1.2% to $5,167.28 per ounce by 0538 GMT, ending a four-session winning streak and retreating from a more than three-week high reached earlier in the day. U.S. gold futures for April delivery fell 0.7% to $5,187.40.
“Yesterday’s rally was meaningful, so some digestion is normal. Notably, we don’t see the same panic from Wall Street extending into Asia,” said Ilya Spivak, head of global macro at Tastylive.
Asian stocks steadied after a shaky start, amid renewed AI-linked selloffs on Wall Street, concerns over U.S. President Donald Trump’s trade policies, and rising geopolitical tensions. The dollar strengthened, making gold more expensive for investors holding other currencies.
Trump recently warned countries against reneging on trade deals with the U.S., noting that he could impose higher duties under alternate trade laws after the Supreme Court struck down his emergency tariffs.
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Meanwhile, Federal Reserve Governor Christopher Waller indicated he could support keeping interest rates unchanged at the March meeting if February jobs data suggest the labor market is stabilizing. Markets currently anticipate three 25-basis-point rate cuts in 2026, according to CME’s FedWatch Tool.
Other metals also saw mixed movements: spot silver fell 0.9% to $87.39 per ounce after a two-week high on Monday, platinum declined 0.5% to $2,142.35, while palladium rose 0.4% to $1,750.98.
-Thestar