Gold Loses over 1% as Dollar Firms, Fed Cut Hopes Fade

March 24 (Reuters) - Gold prices fell more than 1% on Tuesday, extending their slide to a tenth straight session, pressured by a firm U.S. dollar and fading hopes for near-term Federal Reserve interest rate cuts.

FUNDAMENTALS

Spot gold XAU= fell 1.4% to $4,345.48 per ounce as of 0108 GMT. The metal fell to its lowest level since November 24 on Monday.

U.S. gold futures GCcv1 for April delivery fell 1.3% to $4,348.60.

The dollar strengthened, making greenback-priced bullion more expensive for holders of other currencies. USD/

Spot gold prices have fallen about 18% since the U.S.-Israeli war on Iran started on February 28, with the dollar emerging as one of the clearest safe-haven winners.

On Monday, Iran denied any negotiations with the United States after President Donald Trump postponed a threat to bomb Iran's power grid, citing what he described as productive talks with unnamed Iranian officials.

A Pakistani official and a second source told Reuters that direct talks to end the conflict could take place in Islamabad as early as this week.

Oil prices held above $100 a barrel after Tehran denied it had discussed ending the warn in the Gulf with Washington. O/R

Higher crude prices tend to fuel inflation by pushing up transport and manufacturing costs. Although rising inflation typically boosts gold's appeal as a hedge, high interest rates weigh on demand for the non-yielding asset.

Meanwhile, investors trimmed bets on a Fed rate hike in December to roughly 13%, from just above 25% in the prior session, according to CME Group's FedWatch. FEDWATCH

Spot silver XAG= lost 2.5% to $67.37 per ounce. Spot platinum XPT= fell 2.1% to $1,841.35 and palladium XPD= shed 2.8% at $1,393.