Bullion prices ended lower at Comex on Tuesday, 26 June 2018. Gold prices finished at their lowest level in more than six months on Tuesday, with the precious metal under pressure from gains in the U.S. stock market and a stronger dollar.

August gold fell $9, or 0.7%, to settle at $1,259.90 an ounce after trading as low as $1,256.40. The settlement was the lowest for a most-active contract since 15 Dec. 2017. September silver fell 0.5% to $16.331 an ounce.

The June selloff in global risk assets, which was sparked by a fresh round of global trade friction, continued Tuesday in most Asian markets but European stocks mostly advanced and U.S. benchmark stock indexes edged higher. Global trade friction, however, has had a subdued impact in supporting haven gold so far. That leaves the metal almost exclusively tethered to dollar moves that are tracking higher U.S. interest rates.

Meanwhile, U.S. economic data showed that the U.S. consumer confidence index revealed a slid to 126.4 in June, from a revised 128.8 in May, but the data continues to show that American as still optimistic about the domestic economy.

The ICE U.S. Dollar Index which reflects the dollar's strength against a half-dozen rivals, was up 0.5% at 94.714 and about 2.8% higher for 2018 to date. Higher rates and a stronger dollar are headwinds for commodities that don't offer a yield and a strengthening buck tends to weigh on assets priced in the currency, including gold, making them more expensive for purchasers using other monetary units