Gold prices fall as investors await US-Iran peace talks

Gold prices declined on Tuesday as market participants monitored potential diplomatic developments between the United States and Iran. A slightly stronger dollar also weighed on the precious metal, making dollar-denominated commodities more expensive for international buyers.

Spot gold dropped 0.7% to $4,784.37 per ounce by 0615 GMT, continuing a downward trend from the previous session when it touched its lowest level since mid-April. Gold futures for June delivery also saw a 0.5% decrease, trading at $4,803.50.