Doha: Gold prices declined on Tuesday, trading below the two-week peak reached in the previous session, as investors awaited the release of the US Federal Reserve's June meeting minutes to seek indications about the monetary policy stance of the new chairman, Kevin Warsh. Spot gold prices fell by 0.4% to $4148.59 per ounce, while US gold futures for August delivery decreased by 0.2% to $4160.20.

According to Qatar News Agency, gold prices have retreated more than 25% from record highs reached earlier this year. As for other precious metals, silver declined in spot transactions by 0.8% to $61.57 per ounce, platinum fell by 0.8% to $1,618.78, and palladium dropped by 0.4% to $1,264.11.