Mubasher: Gold prices saw a slide on early Tuesday as the US dollar index moved up amid speculations over a hike in US key policy rates.
Spot gold inched down 0.2% to $1,190 per ounce by 3:40am GMT.
US gold futures were lower 0.11% to the mark of $1,189 an ounce.
Commodity analyst Ragab Hamid said that gold prices are weakened by the rise of US dollar thanks to speculations that the US Fed is likely to raise interest rates by 100%.
Prices are likely to decline towards $1,180-75 per ounce during this week, the analyst added, advising traders to decrease positions and minimize losses at $1,170 an ounce.
The US dollar index rose 0.2% to 101.4 points against a basket of currencies.
The index targets the 103-5 zone over the current period, Hamid highlighted, advising to traders to make use of any possible decline in the USD index to increase positions.
