2017.08.1423:38:00UTC+00Gold Prices Slip as North Korea Tensions Ease

Gold prices fell on Tuesday, pulled down by a stable U.S. dollar and stronger Asian equities as geopolitical tensions between the United States and North Korea appeared to have eased off.

Spot gold dropped 0.2 percent to $1,279.01 an ounce.

U.S. gold futures for December delivery slipped 0.4 percent to $1,285.00 an ounce.

Holdings at the SPDR Gold Trust, the world's biggest gold-backed exchange-traded fund, climbed 0.53 percent to 791.01 tonnes on Monday from 786.87 tonnes on Friday.

The precious metal's recent rally may be its first, boosted by Twitter. However, for the gains to sustain itself it will probably take more than just the rise of global geopolitical tensions amid threatening tweets from U.S. President Donald Trump.

Indian traders will possibly import 25 tonnes of the precious metal from South Korea in July and August. It will take advantage of the recent tax change which allows importers to ship in gold without paying a ten percent customs duty, industry officials disclosed to Reuters.