Dubai: Gold prices fell on Tuesday, pressured by a stronger dollar, while markets turned their focus to the Federal Reserve's upcoming policy decision for clues on the interest rate outlook.

According to Emirates News Agency, spot gold fell 0.7 percent to $4,045.89 per ounce by 0448 GMT after rising as much as 1 percent on Monday. US gold futures for August delivery saw a decline of 0.8 percent, settling at $4,046.20. This downturn in gold prices comes as investors closely monitor the Federal Reserve's meeting to assess potential changes in interest rates.

In addition to gold, other precious metals experienced declines. Spot silver fell 2 percent to $57.23 per ounce. Meanwhile, platinum saw a reduction of 0.9 percent to $1,605.93, and palladium slid 1.6 percent to $1,270.97. These movements reflect the broader market reaction to the robust dollar, which often inversely affects the prices of commodities like gold and silver.