Gold closes lower, retreats below $1,700 barrier

Gold prices pulled back on Tuesday, after surpassing the $1,700 barrier earlier, despite a retreat in the US dollar, amid optimism over a slowdown in the coronavirus spread.

New York state announced today the largest daily deaths of the coronavirus, but the numbers for the last three days are less than the average before this period.

The dollar index fell by 0.8% to 99.9 points as of 19:14 GMT, after it hit a high of 100.7 and a low of 99.7.

The coronavirus is still casting its shadow on global markets, as infections rose to 1.4 million, with a death toll of nearly 80,000 victims.

Gold June futures fell 0.6% to close at $1683.7 an ounce, after hitting a day high of $1742.6 and a low of $1672.