Gold closes lower after 4-day rally

Gold prices slipped on Tuesday, after a 4-session rally that lifted the precious metal back above the $1,800 barrier.

President of the Federal Reserve Bank of St. Louis James Bullard said that it is still early to talk about scaling back the Fed's monetary policy, and projected that the inflation rate to rise above the Fed's target of 2% during 2022.

Data showed that the US house prices index rose 16.2% to an average of $319.2 during the first quarter of 2021, the highest quarterly jump ever.

The dollar index fell against a basket of currencies by less than 0.1% to 90.1 points as of 19:25 GMT, after it hit a high of 90.3 points and a low of 89.9 points.

Gold June futures fell 0.1% or $1.5, and closed at $1836.10 an ounce, with a day high of $1842.5 and a low of $1817.8.