Gold prices on Tuesday fell from a more than eight-month peak hit in the previous session on hopes that the U.S. Federal Reserve would adopt a less aggressive approach to rate hikes going forward.

Spot gold fell 0.7% to $1,904.87 per ounce after hitting its highest since the end of April on Monday. U.S. gold futures settled down 0.6% at $1,909.9.

The U.S. dollar index rose 0.2%. A stronger dollar makes gold more expensive for other currency holders.