Gold futures on the COMEX division of the New York Mercantile Exchange fell on Tuesday as the U.S. dollar recovered and precious metals investors turned cautious ahead of central bank meetings this week.
The most active gold contract for December delivery went down 7.20 dollars, or 0.56 percent, to close at 1,270.50 dollars per ounce.
The U.S. dollar Index was up 0.1 percent as of 1830 GMT, trading 1.6 percent higher for the month. This closely tracked dollar index climbed to a more than three-month high Friday as more signs emerged then for progress on U.S. President Donald Trump's promised tax cuts.
Prices for the yellow metal touched fresh session lows after data showed that U.S. consumer confidence climbed to a nearly 17-month high in October.
Investors also eyed tax policy developments and awaited news this week from President Trump on his pick to head the Federal Reserve. The central bank will announce its decision on monetary policy Wednesday.
As for other precious metals, silver for December delivery dropped 15.4 cents, or 0.91 percent, to close at 16.693 dollars per ounce. Platinum for January fell 3.1 dollars, or 0.34 percent, to settle at 919.60 dollars per ounce. Enditem
The most active gold contract for December delivery went down 7.20 dollars, or 0.56 percent, to close at 1,270.50 dollars per ounce.
The U.S. dollar Index was up 0.1 percent as of 1830 GMT, trading 1.6 percent higher for the month. This closely tracked dollar index climbed to a more than three-month high Friday as more signs emerged then for progress on U.S. President Donald Trump's promised tax cuts.
Prices for the yellow metal touched fresh session lows after data showed that U.S. consumer confidence climbed to a nearly 17-month high in October.
Investors also eyed tax policy developments and awaited news this week from President Trump on his pick to head the Federal Reserve. The central bank will announce its decision on monetary policy Wednesday.
As for other precious metals, silver for December delivery dropped 15.4 cents, or 0.91 percent, to close at 16.693 dollars per ounce. Platinum for January fell 3.1 dollars, or 0.34 percent, to settle at 919.60 dollars per ounce. Enditem
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