Gold fell on Tuesday ahead of US President Donald Trump's speech at the New York Economic Club as investors hoped for positive comments on trade talks with China.
Spot gold fell 0.3% to $ 1,451.89 an ounce, while US gold futures were down 0.4% at $ 1,451.40 an ounce.
"Investors are expecting positive news from Trump after he said that trade talks with China are going very well, and as the conversation is getting closer, it is adversely affecting gold," said Helen Lau, analyst at Argonaut Securities.
Trump's speech at the club will be closely watched by investors eager for any positive news about his administration's long-running trade war with China.
In other precious metals, palladium rose 0.5% to $ 1696.07 an ounce after touching its lowest level since October 10 in the previous session.
