Gold futures on the COMEX division of the New York Mercantile Exchange regained some lost ground on Tuesday as the U.S. dollar softened.
The most active gold contract for December delivery went up 6.40 dollars, or 0.50 percent, to close at 1,281.70 dollars per ounce. On Monday, the precious metal had dropped 1.64 percent, the biggest one-day loss in the past two months, due to sell-off.
The U.S. dollar index, a gauge of the greenback against a basket of other major currencies, fell 0.16 percent to 93.91 as of 1826 GMT. A softening dollar made gold more attractive to foreign investors using other currencies, thus pushed up the prices.
However, rising stocks dented the precious metal's safe haven appeal. The Dow Jones Industrial Average rose 183.06 points, or 0.78 percent to 23,613.39 points as of 1837 GMT. The S&P 500 and Nasdaq followed Dow's upturn.
As for other precious metals, silver for December delivery rose 11.8 cents, or 0.70 percent, to close at 16.96 dollars per ounce. Platinum for next January went up 14.4 dollars, or 1.56 percent, to settle at 938.00 dollars per ounce.
The most active gold contract for December delivery went up 6.40 dollars, or 0.50 percent, to close at 1,281.70 dollars per ounce. On Monday, the precious metal had dropped 1.64 percent, the biggest one-day loss in the past two months, due to sell-off.
The U.S. dollar index, a gauge of the greenback against a basket of other major currencies, fell 0.16 percent to 93.91 as of 1826 GMT. A softening dollar made gold more attractive to foreign investors using other currencies, thus pushed up the prices.
However, rising stocks dented the precious metal's safe haven appeal. The Dow Jones Industrial Average rose 183.06 points, or 0.78 percent to 23,613.39 points as of 1837 GMT. The S&P 500 and Nasdaq followed Dow's upturn.
As for other precious metals, silver for December delivery rose 11.8 cents, or 0.70 percent, to close at 16.96 dollars per ounce. Platinum for next January went up 14.4 dollars, or 1.56 percent, to settle at 938.00 dollars per ounce.
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