Gold failed to maintain its consolidation above the $ 1,900 price it reached in Monday's trading session, re-displaying a significant fall following the strength of the greenback dollar.
Although the U.S. Congress passed a new coronavirus stimulus package bill today, the yellow metal trade failed to capitalize on the chance of an increase.
The bill, which will be signed by President Donald Trump, includes direct payments of $ 600 as well as additional payments as unemployment assistance to affected Americans.
Market concerns over the discovery of a new variant of coronavirus in the UK have prompted the US dollar as a safe-haven to rise higher than the precious metal.
At the beginning of the European session, gold traded hovering around the price level of $ 1,870 per ounce, while gold futures traded slightly at $ 1,875 per ounce (4.20pm Malaysian time).
Meanwhile, the greenback dollar continued to strengthen despite being well below the peak it reached yesterday at 90.18.
