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London, February 24 (QNA) – Gold prices fell more than 2 percent on Tuesday, retreating from their highest level in three weeks, due to profit-taking and a stronger dollar.
Spot gold fell 2.1 percent to $5,119.67 per ounce, while US gold futures for April delivery dropped about 1.7 percent to $5,138.30, while the dollar rose by about 0.3 percent.
Prices reached their highest level in three weeks earlier in the session, after US President Donald Trump pledged to raise tariffs to 15 percent following a Supreme Court ruling that his use of emergency powers to impose the tariffs exceeded his authority.
As for other precious metals, silver fell 2 percent to $86.45 an ounce in spot trading, after hitting its highest level in more than two weeks in the previous session.
Platinum also fell 1.6 percent to $2,119.29 an ounce in spot trading, and palladium lost about 1.4 percent to $1,719.29.(QNA)
