Gold prices remained subdued on Tuesday, May 8, as the dollar held steady near its 2018-high on the
relative strength of the U.S. economy.
Spot gold was down about 0.1 percent at $1,313.20 per ounce at 0635 GMT, after closing marginally lower in the previous session.
U.S. gold futures for June delivery were unchanged at $1,314.10 per ounce.
The dollar index hovered near a four-month high on Tuesday, continuing to draw support from higher Treasury yields and upbeat prospects for the U.S. economy, leaving its major rivals such as the euro struggling.
A stronger dollar makes gold and other greenback-denominated commodities more expensive for holders of other currencies.
Spot gold may revisit its May 1 low of $1,301.51 per ounce as it twice failed to break resistance at $1,317, Reuters technical analyst Wang Tao said.
Meanwhile, silver gained 0.2 percent to $16.48 an ounce, while platinum rose 0.2 percent to $909.65 an
ounce, having hit its highest since April 25 in the last session.
Palladium slipped 0.3 percent to $969 an ounce, after hitting its highest since April 27 on Monday.
