Khaberni - Gold prices fell more than 1% on Tuesday, continuing their decline for the tenth consecutive session, affected by the rise of the dollar and fading hopes for a near-term interest rate cut by the Federal Reserve (U.S. Central Bank).
The price of gold in spot transactions fell 1.4% to $4345.48 per ounce by 01:08 GMT.
The U.S. futures contracts for gold delivery in April fell 1.3% to $4348.60.
The dollar rose, making the precious metal more expensive for holders of other currencies.
Gold prices in spot transactions dropped by nearly 18% since the start of the American-Israeli war on Iran on February 28, with the dollar emerging as one of the biggest beneficiaries of the rush to safe-haven assets.
Iran denied on Monday conducting any negotiations with the United States, after President Donald Trump postponed his threat to bomb the Iranian electrical grid, referring to what he described as productive conversations with unnamed Iranian officials.
A Pakistani official and a source for Reuters said that direct talks aimed at ending the conflict could be held in Islamabad this week.
Oil prices stabilized above $100 per barrel after Tehran denied discussing ending the war in the Gulf with Washington.
For other precious metals, spot silver fell 2.5% to $67.37 per ounce.
Platinum fell 2.1% to $1841.35, while palladium dropped 2.8% to $1393.
