Led by a stronger dollar and after recent U.S. economic data raised concerns about another interest rate hike by the Federal Reserve, gold prices fell yesterday.

A 0048 GMT, spot gold was down 0.2% at $1,837.59 per ounce. U.S. gold futures, on the other hand, fell 0.1% to $1,847.60. The Dollar Index was up 0.2%. It makes gold bars less attractive for buyers holding other currencies. Gold is seen as a hedge against runaway inflation, but high interest rates increase the opportunity cost of holding unproductive bullion.

Platinum lost 0.3% to $914.17, cash lost 0.7% to $21.58 per ounce, and palladium lost 0.6% to $1,488.61.