Spot gold fell 0.4 percent to US$4,518.09 per ounce as of 03:06 GMT, following a two-week peak recorded in the previous trading session. Meanwhile, US gold futures for August delivery declined 1 percent to US$4,548.90.

Other precious metals advance

In contrast, spot silver increased 0.4 percent to US$75.58 per ounce, while platinum rose 1.1 percent to US$1,937.30. Palladium also gained 1.2 percent, reaching US$1,370.50 per ounce.