Gold slips to near one-week low as dollar strengthens

Spot gold fell 1.1 per cent to US$4,694.30 per ounce, its lowest level since April 7.

US gold futures for June delivery also fell 1.4 per cent to US$4,717.80.

Mixed performance across metals

Other precious metals showed mixed performance, with spot silver down 1.9 per cent to US$74.45 per ounce.

Platinum fell 1.3 per cent to US$2,019.35, while palladium rose 0.7 per cent to US$1,531.50.

Dollar strength pressures bullion

The stronger dollar typically makes gold more expensive for holders of other currencies, putting downward pressure on prices and affecting investor demand.