Gold falls as dollar widens gains, haven demand wanes

Gold prices fell on Tuesday to a four-session low as the dollar added to its gains against a basket of currencies, while demand fell on safe havens as stocks rise amid expectations of U.S. corporate tax cuts.
 
Gold last traded at $1,228.1 an ounce, down from the opening of $1,237.1, with an intraday high at $1,237.2, and a low at $1,227.2.
 
Gold's current drop comes as the dollar recovers against a basket of currencies today, amid expectations the Federal Reserve might raise interest rates in the March meeting, underpinning demand on the greenback.
 
The dollar's gains weighed on the precious metal today, while global stocks climb as well as U.S. president launches a plan to boost economic growth and cut corporate taxes.
 
Gold prices held on to their gains recently amid political tensions in Europe, as France's Far Right Candidate Marie Le Pan compete strongly in the presidential elections, raising concerns about a possible French exit from the European Union.