Spot gold fell more than 0.7%, briefly breaking below $3300, while stocks in the gold and silver mining industry generally fell.

On Tuesday, New York spot gold fell by 0.76% to $3319.25 per ounce in the afternoon session, remaining in a downward trend for most of the day. In early Asian trading, prices briefly rose before falling back down. Throughout the day, gold traded between $3343.97 and $3299.76, after reaching a historical high of $3500.10 on April 22nd. COMEX gold futures also fell by 0.52% to $3330.20 per ounce, trading below $3400 after hitting a high of $3509.90 on the same day. The Philadelphia Gold and Silver Index dropped by 1.28% to 185.38 points, with most component stocks falling. Kinross Gold, Eldorado Gold, and McEwen Mining performed the worst, down by 2.98%-2.3%, while only First Majestic Silver rose by 0.16% and B2Gold rose by 0.32%.