Gold prices fell on Tuesday, and pulled back from the 10-week high hit yesterday on profit-taking, while the US dollar rose against other major currencies.

Gold prices fell 0.6% to $1,781.42 an ounce, after opening at $1,792.86, and hit a low of $1,793.17.

Gold closed higher by 1.4% yesterday, and hit a 10-week high at $1,797.92 an ounce, after weak data in the US.

Federal Reserve Bank of New York President John Williams said that the US economic recovery is not sufficient for the central bank to pull back on its aggressive monetary policy support.

The dollar index rose over 0.4%, and hit a 2-week high at 91.39 points, which weighs down on demand for gold and other dollar denominated metals.

The 10-year US treasury yields rose more than 1% today, and rebounded from a 1-week low.

Gold stocks at the SPDR ETF rose 1.16 metric tonnes yesterday, the first increase since April 19, with a total at 1,018.20 metric tonnes.

USD/JPY tilted higher in Asian trade off March 4 lows amid a lack of data from Japan today due to a bank holiday and ahead of US data later today. 

As of 06:52 GMT, USD/JPY rose 0.23% to 109.32, with an intraday high at 109.35. 

From the US, goods trade deficit is expected up to $74.5 billion from $71.1 billion in February, while factory orders are expected up 1.3% in March. 

Federal Reserve Bank of San Francisco President Mary Daly is due to to participate in a panel discussion at an online event hosted by the Economic Club of Minnesota.

The US dollar fell against most of its peers on Monday, as investors avoided safe havens and turned to risky assets, in addition to the release of weak economic data.

Apple, Microsoft, Amazon, Tesla and Facebook have reported better-than-expected earnings in the first quarter of 2021.

The US Federal Reserve decided last week to keep the interest rate between 0.0% and 0.25% unchanged.

Although several countries managed to contain the Covid-19 pandemic, India is still an exception to this, as it is now facing a sharp spike in the infection rate and deaths, while the health system is being overwhelmed.

The ISM US manufacturing PMI fell to 60.7 points in April from 64.7 points in March, while analysts forecast a rise to 65.

The dollar index fell against a basket of currencies by 0.3% to 90.9 points as of 18:52 GMT, after it hit a high of 91.3 points and a low of 90.8 points.

Gold prices rose on Monday, and closed near the $1800 barrier once again, as the US dollar fell against most of its peers.

Although several countries managed to contain the Covid-19 pandemic, India is still an exception to this, as it is now facing a sharp spike in the infection rate and deaths, while the health system is being overwhelmed.

The US Federal Reserve decided last week to keep the interest rate between 0.0% and 0.25% unchanged.

The dollar index fell against a basket of currencies by 0.3% to 90.9 points as of 20:32 GMT, after it hit a high of 91.3 points and a low of 90.8 points.

Gold June futures rose 1.4% or $24.10, and closed at $1,791.8 an ounce.