Doha: Gold prices fell more than 1% on Tuesday, extending their slide to a tenth straight session, pressured by a firm US dollar and fading hopes for near-term Federal Reserve interest rate cuts. Spot gold fell 1.4% to $4,345.48 per ounce, while US gold futures for April delivery fell 1.3% to $4,348.60. The rising dollar made the precious metal more expensive for holders of other currencies.

According to Qatar News Agency, the decline in gold prices was accompanied by similar losses in other precious metals. Spot silver lost 2.5% to $67.37 per ounce, spot platinum fell 2.1% to $1,841.35, and palladium shed 2.8% at $1,393. The stronger US dollar has contributed to the increased cost of these metals for international investors, further influencing the market dynamics. The current economic environment and monetary policy signals from the Federal Reserve play a crucial role in shaping these trends.