The news of the ceasefire put the US dollar on the defensive, with an index tracking the currency against a basket of its peers dropping 0.4% to 98.06.
Gold prices fell more than 1% in European trading as the easing of geopolitical tensions led investors to move away from safe-haven assets.
Spot gold fell 1.4% to $3,320.57 an ounce at 8:25, dropping to its lowest level since June 11. August gold futures fell 1.8% to $3,334.87/ounce.