The yellow metal prices fell in spot trading by $6.7, or 0.37%, to trade at $1812.53 an ounce.
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Gold futures prices for February delivery are down 0.23%
Gold prices fell on Tuesday morning, with US Treasury yields rising. Investors are awaiting the schedule for the US Federal Reserve to raise interest rates during 2022.
And at (9:31 GMT), the yellow metal fell in spot trading by 6.7 dollars, or 0.37%, to trade at 1812.53 dollars an ounce.
Gold futures prices for February delivery fell 0.23%, or the equivalent of $4.1, to the level of $1812.40 an ounce.
Meanwhile, the dollar index rose against six other major currencies by 0.17% at 95.325.
Investors are awaiting the results of the Federal Reserve’s meeting next week on January 25-26, after US central bank officials announced a rate hike next March, to calm annual inflation, which rose to 7% last month.
Gold is one of the assets that is hedge against inflation spikes, but the precious metal is highly sensitive to rising US interest rates, which increases the opportunity cost of owning the yellow metal that does not yield any return.
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