Gold fell Tuesday as trade tensions between the U.S. and China intensified, prompting investors to seek refuge in the U.S. dollar, driving a benchmark index for the greenback to its highest levels of the year. August gold lost $1.50, or 0.1%, to finish at $1,278.60 an ounce. Prices finished just above Friday's $1,278.50 settlement, which was the lowest since December.