Dollar Surge Pushes Gold Below $4,000 Barrier

Gold was traded below $4,000 per ounce again on Tuesday as the dollar remained at its highest level in over three months. The reduced likelihood of another U.S. interest rate cut in December and eased trade tensions between the U.S. and China weakened demand for the yellow metal.

Spot gold fell 0.2 percent to $3,992.23 per ounce by 0343 GMT. U.S. gold futures for December delivery dropped 0.3 percent to $4,001.40 per ounce.

The dollar was steady, hovering near its three-month peak, as a divided Federal Reserve prompted traders to cut bets on interest rate cuts.

Gold has risen 53 percent since the start of the year but has decreased by more than eight percent from the record high set on October 20.

Among other precious metals, spot silver gained 0.1 percent to $48.12 per ounce. Platinum inched up 0.1 percent to $1,566.60, while palladium slipped one percent to $1,430.31 per ounce.