A stronger U.S. dollar sent gold lower in Tuesday trading. The metal gained early in the session, but fell back under pressure from profit-taking and investor caution ahead of this Friday’s report on U.S. employment for June.

The U.S. dollar rallied after a series of positive economic reports stoked investor expectations that the Federal Reserve will begin slowing its monthly bond-buying earlier than initially thought.

Gold futures for August delivery fell 1% to $1,243.40 per ounce on Tuesday, according to CME Group. Gold traded as high as $1,267 and as low as $1,240.10. Gold bullion closed in London at $1,246, according to BullionVault.

Silver futures for August delivery dropped 1.4% to $19.30 per ounce. Tuesday’s high for silver was $19.79 while the low was $19.30.

Gold and silver funds dropped modestly in Tuesday trading.

• The SPDR Gold Trust (GLD) fell 0.9%.
• The iShares Gold Trust (IAU) slipped 0.8%.
• The iShares Silver Trust (SLV) declined 1.3%.

Gold and silver mining ETFs sank during the day.

• The Market Vectors Gold Miners ETF (GDX) tumbled 4.6%.
• The Market Vectors Junior Gold Miners ETF (GDXJ) slid 4.1%.
• The Global X Silver Miners ETF (SIL) slumped 3.8%.

Gold mining shares declined on Tuesday.

• Agnico-Eagle Mines (AEM) dropped 5%.
• Barrick Gold (ABX) slid 4.9%.
• Eldorado Gold (EGO) tumbled 5.4%.
• Goldcorp (GG) fell 5.8%.
• Kinross Gold (KGC) sank 4.1%.
• Newmont Mining (NEM) dipped 3.4%.
• NovaGold Resources (NG) plunged 5.9%.
• Yamana Gold (AUY) dove 4.2%.

Silver mining shares skidded during the day.

• Coeur d’Alene Mines (CDE) fell 3.1%.
• Hecla Mining (HL) slid 4.6%.
• Pan American Silver (PAAS) also dropped 4.6%.
• Silver Wheaton (SLW) tumbled 5.9%.
• Silver Standard Resources (SSRI) sank 5.3%.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.