London — Gold prices fell on Tuesday, under pressure from a stronger dollar ahead of an annual meeting of central bankers this week, while speculative buying pushed palladium to its highest since February 2001. Spot gold was down 0.2% at $1,288.39 an ounce at 1.42pm GMT. That compares with last week’s peak at $1,300.8 — its highest since early November. US gold futures slid 0.5% to $1,290.60 an ounce. Investors are waiting for speeches by European Central Bank President Mario Draghi and Federal Reserve chair Janet Yellen at Jackson Hole, Wyoming, for clues to the direction of interest and currency rates. A rising US currency makes dollar-denominated commodities more expensive for holders of other currencies, which could subdue demand. "Draghi could take the opportunity to downplay the idea of monetary tightening in the euro zone, which would have a dampening effect on the euro and lift the dollar," said Julius Baer analyst Carsten Menke. "From the Fed’s perspective, we think they ar...
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