Gold futures on the COMEX division of the New York Mercantile Exchange ended higher on Tuesday as the U.S. dollar weakened slightly, offering a lift to the yellow metal.
The most active gold contract for February delivery went up 8.7 dollars, or 0.68 percent, to close at 1287.5 dollars per ounce.
The long Christmas weekend has shortened the trading week, and volumes were low as many market participants are expected to stay away until after New Year next Monday. European markets remained closed Tuesday fro Boxing Day.
The U.S. dollar index tipped 0.1 percent lower at 93.24, while stocks traded mixed. Gold, which is priced in dollars, tends to be sensitive to moves in its exchange rate. The two assets typically move inversely.
As for other precious metals, silver for March delivery added 16 cents, or 0.97 percent, to settle at 16.604 dollars per ounce. Platinum for January rose 0.5 dollar, or 0.05 percent, to close at 923.5 dollars per ounce.
The most active gold contract for February delivery went up 8.7 dollars, or 0.68 percent, to close at 1287.5 dollars per ounce.
The long Christmas weekend has shortened the trading week, and volumes were low as many market participants are expected to stay away until after New Year next Monday. European markets remained closed Tuesday fro Boxing Day.
The U.S. dollar index tipped 0.1 percent lower at 93.24, while stocks traded mixed. Gold, which is priced in dollars, tends to be sensitive to moves in its exchange rate. The two assets typically move inversely.
As for other precious metals, silver for March delivery added 16 cents, or 0.97 percent, to settle at 16.604 dollars per ounce. Platinum for January rose 0.5 dollar, or 0.05 percent, to close at 923.5 dollars per ounce.
Latest comments