Gold slipped on Tuesday after hitting a lifetime high at $1,300 an ounce in the previous session as a rebound in the US dollar prompted speculators to lock-in gains. Spot gold fell $3.65 an ounce to $1,292.40 an ounce by 0443 GMT, having struck a record on concerns over the global economic recovery and a weaker dollar.
Gold has gained as much as 18.5 percent this year. Silver slipped after rallying to its highest in three decades at $21.61 an ounce on Monday, tracking gains in gold.