Gold and silver futures prices fell as the dollar rose during Tuesday's trading, amid market anticipation of talks between Iran and the United States regarding Tehran's nuclear program, scheduled for today, after US President Donald Trump said that Tehran wants to reach an agreement.
Gold futures for April delivery fell 2.75% or $139 to $4,907.30 an ounce.
The spot price of gold fell by 2% to $4,889.9 per ounce, while its counterpart for silver lost about 3% to trade at $74.30 per ounce.
Meanwhile, the dollar index, which measures the performance of the US currency against a basket of six major currencies, rose by 0.2% to trade at 97.09 points.
Silver futures for March delivery fell 5.3% to $73.85 an ounce, while spot prices for platinum dropped about 2.15% to $2,001.52, and palladium fell 2.25% to $1,688.79.
Representatives from Ukraine and Russia are scheduled to meet in Geneva on Tuesday and Wednesday for a new round of US-mediated peace talks, according to Reuters.