Gold falls as the dollar gains on global trade fears

Gold prices fell on Tuesday after the dollar hit a one-week high as global trade tensions and economic concerns in emerging markets intensified.
The yellow metal has lost about 8 percent since the beginning of the year as US interest rates, trade disputes and the Turkish currency crisis rose as investors kept their money in safe havens.

Gold fell 0.3 percent on spot trade to $ 1196.90 an ounce by 06:39 GMT, while in US futures it dropped 0.4 percent to $ 1202.10 an ounce.

The dollar index, which tracks the performance of the greenback against a basket of currencies, hit its highest level since August 24 at 95.410.

Among other precious metals, silver fell 0.4 percent in spot trade to $ 14.40 an ounce, having fallen to a two-week low of $ 14.35 an ounce.

Platinum rose 0.3 percent to $ 785.70 an ounce, while palladium dropped 0.5 percent to $ 973.90 an ounce, after hitting an 11-week high of $ 985.50 an ounce on Monday.