In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 100 each to Rs 34,270 and Rs 34,100 per 10 gram, respectively. Meanwhile, silver ready gained Rs 90 to Rs 39,090 per kg, while weekly-based delivery gained Rs 144 to Rs 38,098 per kg.
US President Donald Trump's decision on Thursday to place tariffs on imports of aluminium and steel raised fears of retaliation by other nations and knocked the dollar from a six-week high, making dollar-denominated gold cheaper for users of other currencies.
The dollar inched up but still hovered near a two and a half year low versus the euro on Tuesday. Its outlook remained clouded by US political turmoil and doubts about whether there will be another Federal Reserve rate hike this year.
Gold futures fell Rs 94 to Rs 28,384 per 10 gm today as participants trimmed their positions after a decline in global prices of the precious metal. The August contract of gold fell by Rs 94 or 0.33 percent lower at Rs 28,384 per 10 gm.