Gold futures on the COMEX division of the New York Mercantile Exchange fell on Tuesday as equities climbed to new high and the U.S. dollar stayed firm.
The most active gold contract for December delivery went down 2.60 dollars, or 0.20 percent, to close at 1,278.30 dollars per ounce.
U.S. stocks rose sharply on Tuesday, with the Dow Jones Industrial Average setting new record. The Dow climbed 201.77 points, or 0.87 percent to 23,475.73 points as of 1723 GMT.
Analysts said the Dow Jones Industrial Average was boosted by the strong performances of Caterpillar and 3M, both reported better-than-expected results.
Meanwhile, the U.S. dollar index, a gauge of the greenback against a basket of other major currencies, rose 0.04 percent to 93.85 as of 1714 GMT.
When equities post gains and the U.S. dollar remains strong, the demand for safe haven, gold, decreases.
As for other precious metals, silver for December delivery fell 10.9 cents, or 0.64 percent, to close at 16.966 dollars per ounce. Platinum for next January went down 1.7 dollars, or 0.18 percent, to settle at 925.50 dollars per ounce.
The most active gold contract for December delivery went down 2.60 dollars, or 0.20 percent, to close at 1,278.30 dollars per ounce.
U.S. stocks rose sharply on Tuesday, with the Dow Jones Industrial Average setting new record. The Dow climbed 201.77 points, or 0.87 percent to 23,475.73 points as of 1723 GMT.
Analysts said the Dow Jones Industrial Average was boosted by the strong performances of Caterpillar and 3M, both reported better-than-expected results.
Meanwhile, the U.S. dollar index, a gauge of the greenback against a basket of other major currencies, rose 0.04 percent to 93.85 as of 1714 GMT.
When equities post gains and the U.S. dollar remains strong, the demand for safe haven, gold, decreases.
As for other precious metals, silver for December delivery fell 10.9 cents, or 0.64 percent, to close at 16.966 dollars per ounce. Platinum for next January went down 1.7 dollars, or 0.18 percent, to settle at 925.50 dollars per ounce.
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