Gold futures on the COMEX division of the New York Mercantile Exchange continued to rise on Tuesday as the flare-up of tensions in Syria led to safe-haven demand.
The most active gold contract for June delivery went up 5.8 dollars, or 0.43 percent, to settle at 1345.90 dollars per ounce.
The White House announced on Tuesday that President Donald Trump had cancelled a planned trip to South America, scheduled on Friday, to remain at home to oversee the American response to Syria following an alleged chemical attack that reportedly killed dozens of people.
Calling the attack "sick", Trump tweeted on Sunday that "President Putin, Russia and Iran are responsible" for backing the Syrian government, warning that there would be a looming "big price" for them to pay.
But Syria and Russia denied any involvement, and Damascus invited the Organization for the Prohibition of Chemical Weapons to investigate the incident.
Meanwhile, the U.S. dollar index, a gauge of the dollar against a basket of other major currencies, declined 0.15 percent to 89.69 as of 1630 GMT Tuesday.
Gold and the dollar usually move in opposite directions. If the dollar goes down, gold futures will rise as gold, measured in U.S. dollar, becomes less expensive for investors using other currencies.
As for other precious metals, silver for May delivery went up 6.7 cents, or 0.41 percent, to settle at 16.596 dollars per ounce. Platinum for July was down 6.30 dollars, or 0.67 percent, to close at 933.10 dollars per ounce.
The most active gold contract for June delivery went up 5.8 dollars, or 0.43 percent, to settle at 1345.90 dollars per ounce.
The White House announced on Tuesday that President Donald Trump had cancelled a planned trip to South America, scheduled on Friday, to remain at home to oversee the American response to Syria following an alleged chemical attack that reportedly killed dozens of people.
Calling the attack "sick", Trump tweeted on Sunday that "President Putin, Russia and Iran are responsible" for backing the Syrian government, warning that there would be a looming "big price" for them to pay.
But Syria and Russia denied any involvement, and Damascus invited the Organization for the Prohibition of Chemical Weapons to investigate the incident.
Meanwhile, the U.S. dollar index, a gauge of the dollar against a basket of other major currencies, declined 0.15 percent to 89.69 as of 1630 GMT Tuesday.
Gold and the dollar usually move in opposite directions. If the dollar goes down, gold futures will rise as gold, measured in U.S. dollar, becomes less expensive for investors using other currencies.
As for other precious metals, silver for May delivery went up 6.7 cents, or 0.41 percent, to settle at 16.596 dollars per ounce. Platinum for July was down 6.30 dollars, or 0.67 percent, to close at 933.10 dollars per ounce.
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