India, June 24 -- Gold prices fell more than 1 percent on Tuesday to hit a two-week low as the ceasefire agreement between Israel and Iran diminished bullion's safe-haven demand appeal.
Spot gold fell 1.4 percent to $3,323.32 per ounce in European trade, while U.S. gold futures were down 1.8 percent at $3,335.05.
The office of Israeli Prime Minister Benjamin Netanyahu and Iranian state media outlet Press TV have confirmed a ceasefire had begun.
The ceasefire agreement announced by U.S. President Donald Trump came after an apparent intensification of hostilities, with Iran on Monday carrying out retaliatory missile strikes at the U.S. Al Udeid Air Base in Qatar.
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