*

Trump hints at some flexibility regarding tariffs

*

US and Russia discuss Black Sea maritime ceasefire

*

US dollar hit its highest level since March 6

(Adds comment and updates prices)

By Anmol Choubey

March 24 (Reuters) - Gold prices dropped on Monday as

the dollar touched an over two-week high, while investors took

stock of U.S. President Donald Trump's more cautious stance on

tariffs against trading partners.

Spot gold fell 0.4% to $3,010.33 an ounce at 11:12

a.m. (1512 GMT). U.S. gold futures edged down 0.2% to

$3,015.50.

"We've hit a record after record and now the market is just

consolidating these gains and this is enforced by somewhat

higher U.S. dollar," said Bart Melek, head of commodity

strategies at TD Securities.

Gold, traditionally seen as a hedge against geopolitical and

economic uncertainties and often thriving in a low interest rate

environment, has hit 16 record highs this year and reached an

all-time peak of $3057.21 last week.

The U.S. dollar rose 0.2%, hitting an over two-week

high and making greenback-priced bullion more expensive for

overseas buyers.

Trump hinted on Friday that there would be some flexibility

regarding reciprocal tariffs that are set to take effect on

April 2 and are expected to drive inflation and hinder economic

growth.

Chicago Federal Reserve President Austan Goolsbee and New

York Fed President John Williams said on Friday that it would be

premature to gauge the economic effects of Trump's tariff

actions.

Last week, the Fed held its benchmark interest rate steady

and indicated two quarter-percentage-point cuts this year.

Investors now await U.S. Personal Consumption Expenditures

data due on Friday, the Fed's preferred inflation measure.

Meanwhile, U.S. and Russian officials held talks in Saudi

Arabia aimed at making progress towards a broad ceasefire in

Ukraine, with Washington eyeing a separate Black Sea maritime

ceasefire deal before securing a wider agreement.

"If over the week the talks in Saudi Arabia do materialize

and there is a dip in gold based off that, I expect it will be

bought up fairly quickly," said Bob Haberkorn, senior market

strategist at RJO Futures.

Spot silver fell 0.2% to $32.97 an ounce, platinum

fell 0.5% to $970.47, and palladium was down 0.9%

at $949.25.

(Reporting by Anmol Choubey in Bengaluru. Editing by Mark

Potter and Ros Russell)