Ammon News - Gold prices fell more than 1% to a near two-week low on Tuesday as risk appetite improved after a ceasefire came into effect to end a 12-day war between Iran and Israel, denting demand for safe-haven assets.

Spot gold was down 1.4% at $3,319.84 an ounce, as of 0639 GMT, its lowest level since June 11.

U.S. gold futures slipped 1.7% to $3,335.50.

U.S. President Donald Trump said on Tuesday a ceasefire between Israel and Iran was now in place and asked both sides not to violate it.

Israeli Prime Minister Benjamin Netanyahu said Israel has agreed to Trump's ceasefire proposal.

The announcement drove global equities higher, while oil prices hit a two-week low as worries over supply disruption ebbed.

Elsewhere, spot silver fell 0.5% to $35.96 per ounce, platinum fell 1.1% to $1,280.58, while palladium slipped 2.2% to $1,055.15. Reuters