Gold prices fell against the dollar on pressure from marginal US currency gains, and the rise in the US currency is often putting pressure on precious metal prices and commodities.

US stocks fall on the market ahead of mixed data

Wall Street stocks fell slightly in Tuesday's trading as investors remained cautious about the ongoing trade war between China and the United States. Despite positive manufacturing data from both countries, other reports indicated that the trade dispute had an impact on countries such as Germany and Japan.

Trade talks between Washington and Beijing are due to continue this week.

Meanwhile, data released yesterday showed China's manufacturing activity grew at the fastest pace in eight months, while US data revealed further acceleration in domestic manufacturing activity, dampening investor fears of a possible global slowdown.

Chinese manufacturing activity rose in March for the first time since November, according to a new issue issued by EHSMarket on Monday. The seasonally adjusted PMI was recorded at 50.8 in March, up from 49.9 in February, the highest since July 2018.

Production has peaked since last August, although the report warns that the expansion was modest. New business and export orders rose slightly in March. Business optimism reached its highest level in ten months, although it remains below the long-term trend.

US Futures Contracts

• The Dow Jones industrial average was down 0.12% at 10:27 am CET.
• While the Standard & Poor's 500 Index and the Nasdaq 100 shed 0.14% and 0.16% respectively.

Meanwhile, the dollar index, which measures its performance against a basket of major currencies, rose 0.10% to 97.34 points. Meanwhile, the euro fell 0.12% to trade at 1.1199 against the dollar at 10:27 am.

Gold trading against the dollar

• Gold futures for June delivery fell 0.20% to $ 1291.30 an ounce.
• Instant delivery prices settled at $ 1286.81 an ounce at 10:27 am CET.