Gold Nears Three-Week Low as Dollar Rises

Gold prices experienced a slight change today, Tuesday, hovering near a three-week low. This movement follows the strong dollar and diminishing concerns about a global trade war, which have reduced the allure of the precious metal as a safe haven.

Spot gold remained steady at 3318.71 dollars per ounce as of 0601 GMT. It reached its lowest level since July 9 in the previous session.

U.S. gold futures rose by 0.2 percent to 3317.50 dollars. Meanwhile, the dollar index remained near a two-week high, making gold more expensive for buyers with other currencies.

The Federal Reserve's two-day monetary policy meeting is set to begin later today, Tuesday. There is widespread expectation that interest rates will be left unchanged.

Silver held steady in spot transactions at 38.18 dollars per ounce. Platinum decreased by 0.1 percent to 1388.98 dollars, and palladium dropped by 1.7 percent to 1225.44 dollars.