Gold prices fell on Tuesday. Spot gold fell 0.5 per cent to $4,544.17 per ounce. U.S. gold futures for June delivery lost 0.2 per cent to $4,547.70. However, the bullion stayed above a 1-1/2-month low hit in the last session, as markets consolidated while awaiting further developments after U.S. President Donald Trump paused a planned attack against Iran. Spot silver fell 2.1 per cent to $76.02 per ounce, platinum lost 0.5 per cent to $1,969.05, and palladium dropped 1.5 per cent to $1,397.23.
Oil prices fell more than 2 per cent, easing some inflation fears. Gold is considered a hedge against inflation, though higher interest rates tend to weigh on the non-yielding metal.
