Gold prices dip as fresh US-Iran strikes drive up dollar, oil

Gold prices fell in Asian trade on Tuesday after fresh U.S. strikes on Iran dampened recent optimism over a potential peace deal between the two sides.

The dollar steadied, while oil prices rebounded on Tuesday following news of the U.S. attacks, pressuring gold prices and cutting short a recent rally in bullion.

Spot gold fell 0.9% to $4,529.07 an ounce by 01:46 ET (05:46 GMT), while gold futures steadied at $4,560.92/oz.

Other precious metals also retreated, with spot silver down 2.1% to $76.4330/oz, while spot platinum fell 0.7% to $1,951.33/oz.