Gold prices slumped slightly on Tuesday, May 22, not far off a 2018 low struck in the previous session as a firm dollar near five-month highs and optimism in global markets curbed appetite for the precious metal.
Spot gold was down 0.2 percent at $1,290 per ounce, as of 0614 GMT. In the previous session, it slid to $1,281.76 its lowest since Dec. 27.
U.S. gold futures for June delivery slipped 0.1 percent to $1289.8 per ounce.
The dollar traded below a five-month high against a basket of currencies on Tuesday, catching its breath after a broad rally inspired by rising U.S. bond yields and relief at an easing of U.S.-China trade tensions.
Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.38 percent to 852.04 tonnes on Monday.
Among other precious metals, silver slid 0.3 percent to $16.44 an ounce, while palladium was largely unchanged at $989.05 an ounce.
Platinum soared by 0.1 percent to $896.50 an ounce, after marking a fresh low for the year in the previous session at $873.50.
