Gold prices fall, pressured by a firmer US dollar on expectations of a Federal Reserve interest rate hike this year, while investors asses US-Iran peace talks.

Spot gold downs 0.7 per cent at $4,162.60 per ounce, as of 0228 GMT, after falling nearly 1pc earlier in the session. US gold futures for August delivery fall 0.5pc to $4,180.50.

“Gold had received some relief from lower oil prices this week, but it is getting no such favours from the US dollar, which continues to push higher on expectations of Fed rate hikes,” said Tim Waterer, chief market analyst at KCM Trade.