Gold fell more than 1% to below $5,170 per ounce on Tuesday after four days of gains, as traders weighed renewed tariff risks and persistent geopolitical uncertainty. The Trump administration is seeking to revive its global tariff agenda after the Supreme Court last week blocked many of the levies imposed last year. Following the decision, President Trump announced a new 10% tariff, set to take effect today, which he threatened to raise to 15%. On Monday, Trump warned of steeper duties on countries that “play games” with their existing trade deals. This comes as many countries reassess their trade positions after the ruling. The EU halted the ratification process of its trade agreement, while India deferred talks with the US. On the geopolitical front, attention remains on US-Iran nuclear talks, set to resume on Thursday. Trump said he prefers a negotiated settlement but cautioned that serious consequences could follow if a deal is not reached.