Gold fell on Tuesday, easing off a two-week peak, as the dollar steadied near a one-month high, although fears of the economic fallout from the coronavirus in China dulled risk sentiment and kept prices supported above the $1,500 an ounce level.

Spot gold was down 0.4% to $1,555.59 per ounce, after hitting its highest since Jan. 8 at $1,568.35 earlier in the session. U.S. gold futures fell 0.3% to $1,555.70 per ounce.

The dollar held near the highest level in nearly a month, making gold expensive for holders of other currencies.

A coronavirus outbreak that began in the central Chinese city of Wuhan sent shivers through financial markets, as the World Health Organization called a meeting for Wednesday to consider declaring an international health emergency.

Source : Reuters