Gold falls

Bengaluru : Gold prices fell on Tuesday as investors sought safety in the U.S. dollar amid concerns of slowing global trade after the United States imposed a new round of tariffs on Chinese imports.

U.S. President Donald Trump on Monday imposed 10 percent tariffs on about $200 billion worth of Chinese imports and warned of more tariffs if China retaliated.

Spot gold fell 0.2 percent at $1,198 an ounce at 0309 GMT, after rising 0.6 percent in the previous session.

U.S. gold futures were down 0.2 percent at $1,203.90 an ounce.

"Gold is facing a couple of headwinds. The impending rate hike by the Fed is weighing on and obviously the escalation of trade conflict is pushing investors back in to the U.S. dollar," ANZ analyst Daniel Hynes said.

"This (trade woes) has not helped gold prices at all. It is likely to be a pretty tough environment for gold in the next couple of weeks as it battles these two fronts."