Gold prices fall after positive economic data

Gold prices fell on Tuesday, with the rise in US dollar, considering expectations that the Federal Reserve will maintain its accommodative policy in the near term, along with positive Chinese trade data that showed exports grew more than expected during August.

Gold futures contracts for December delivery fell 0.9%, or $17.6, to reach $1,816.1 per ounce at 11:46am Makkah time. Spot price for the yellow metal fell 0.5% to reach $1,815.58 per ounce.

Elsewhere, silver futures for December delivery fell 1.4% to reach $24.45 an ounce, spot price for platinum delivery declined 0.9% to reach $1,013.7, while palladium dropped 0.6% to reach $2,394.9 per ounce.

Markets are also looking forward to Thursday's European Central Bank (ECB) meeting, during which officials are likely to discuss removing stimulus measures.