Gold prices drop slightly in global market

Gold prices saw a small drop on Tuesday in the global market after the US dollar bounced back slightly. A stronger dollar usually makes gold less attractive for people using other currencies.

• Spot gold fell by 0.4% to $3,215.31 per ounce.
• US gold futures dropped 0.5% to $3,218.40.
• Silver was also down 0.3% to $32.25 per ounce.
• Platinum rose 0.3% to $1,000.71, while palladium edged down 0.1% to $973.74.

The US dollar had hit a low earlier but slightly recovered, causing gold prices to ease.

Oil prices didn’t change much as traders looked at several global factors:

• Tensions in US-Iran nuclear talks,
• Strong oil demand in Asia,
• Uncertainty around China’s economic outlook.
• Brent crude dipped by 6 cents to $65.48 a barrel.
• US crude (WTI) rose slightly by 1 cent to $62.70.

Meanwhile, Iran’s Deputy Foreign Minister warned that nuclear discussions might fail if the US demands a full stop to Iran’s uranium enrichment.

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