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Gold prices fall in early trade

Gold prices fall in early trade
US gold futures edged down to 1,338.65 an ounce - Photo Credit: Reuters

Mubasher: Gold prices saw a slide in Tuesday's early trade amid a stronger dollar index.

By 3:56am GMT, spot gold was lower 0.5% to $1,335.3 per ounce.

US gold futures edged down 0.4% to 1,338.65 an ounce.

The US dollar index increased 0.36% to 95.28 against a basket of currencies.

Gold prices are likely to steady at the current levels amid a weak trading activity today due to lack of positive and influential economic events, said currency market analyst Mohamed Al-Ansari.

Meanwhile, the US dollar index is moving in a narrow channel and could target the mark of $100 on statements regarding interest rates or political news like the current US election run, the analysts concluded.