Gold slipped on Tuesday on a stronger dollar and as investors booked profits after the yellow metal hit a near three-month high in the previous session, amid safe-haven demand on the back of rising global political uncertainty. The dollar index, which measures the greenback against a basket of currencies, was up 0.7 percent at 100.610.
Spot gold was down 0.52 percent at $1,229.11 per ounce at 0814 GMT. In the previous session, the metal touched $1,235.73, its highest since November 11. US gold futures fell 0.06 percent, to $1,231.2.
"Participants still look to play on the long side. However, we may see profit-taking push the metal towards the 100-day moving average at $1,220.25," MKS PAMP Group trader Sam Laughlin said in a note.
Political uncertainty in the United States has been fuelled by President Donald Trump's policies, the most controversial of which is a temporary ban on entry by people from seven mostly Muslim countries. Philadelphia Federal Reserve Bank President Patrick Harker on Monday said he would be open to raising interest rates again at the US central bank's March meeting if growth in jobs and wages continues.
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