London — Gold prices were weighed down by a stronger dollar on Tuesday, dropping for the third session, but were underpinned by geopolitical worries and uncertainty about this week’s huge US bond auctions. The dollar continued its rebound from three-year lows as investors believed the currency was due an upward correction after a brutal sell-off in recent weeks. A buoyant dollar makes commodities priced in it more expensive for buyers using other currencies. Spot gold was down 0.7%, its biggest one-day percentage fall in two weeks, at $1,337.41 an ounce by 11.10am GMT. US gold futures shed 1.2% to $1,339.80 an ounce, posting their biggest one-day percentage fall since November 2017. Spot gold is expected to fall to the next support level at $1,326, according to Reuters technical analyst Wang Tao. Gold may get a boost later on Tuesday, however, when the US government launches a series of auctions for $258bn worth of debt this week. "We have a barrage of US debt being auctioned off an...
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