Dollar Strength Pushes Gold Lower as Fed Meeting Looms

Gold prices fell on Tuesday as the US dollar held near a one-month high, making gold more expensive for holders of other currencies.

The price of spot gold dropped by 0.5% to $4,056.03 per ounce, while U.S. gold futures for August delivery lost 0.5% to $4,056.70.

President Trump's comments on the US-Iran conflict and a possible deal seemed to have little impact on gold prices, despite his optimism about negotiations with Iran.