Gold prices fell more than 1% as the dollar rose following an unexpected rise in the consumer price index in the United States in August, raising bets that the Federal Reserve (the US central bank) will raise interest rates.
Spot gold prices fell 1.2 percent to $1,703.80 an ounce by 1745 GMT.
And US gold futures fell 1.3 percent to settle at $1,717.40.
The US consumer price index rose unexpectedly in August as lower gasoline prices offset gains in rental and food costs.
The US dollar index rose 1.3 percent, making gold more expensive for buyers abroad.
Among other precious metals, spot silver fell 1.4 percent to $19.51 an ounce, following it recorded on Monday the largest daily percentage rise since February 2021.
Platinum fell 2.1 percent to $887.94, and palladium fell 6.4 percent to $2,120.16. (Archyde.com)
