Gold prices fell to the lowest level in 4 weeks, as expectations of the US Federal Reserve to tighten monetary policy reinforced the strength of the dollar, and undermined the demand for the yellow metal.
Spot gold prices fell 0.7% to $1,916.41 an ounce, after touching its lowest level since March 29 at $1,914.58, and US gold futures fell. 0.9% to $1,917.40 per ounce.
Amid expectations of a half-percentage point rate hike at the Fed's meeting in May, traders are betting that the Fed will raise interest rates further in the following months.
On the other hand, the dollar has stabilized near its highest level in two years, making gold priced in US dollars more expensive for holders of other currencies.
For other precious metals, spot silver fell 1.7% to $23.73 an ounce, its biggest drop in more than two months.
Platinum fell 0.8% to $923 an ounce, its lowest since mid-December, and palladium fell 3.1% to $2,302.19.
