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Gold Settles Modestly Higher As Dollar Retreats

Tue, 12th Feb 2019 19:39

WASHINGTON (Alliance News) - Gold futures ended higher on Tuesday, as the dollar took a breather after an eight-session winning streak.

Dollar retreated and equities surged higher on news the US congressional negotiators reached an agreement to avoid new government shutdown and possible finance for the construction of new barriers along the US-Mexico border.

The Dollar Index dropped by about 0.4% to 96.67.

Gold futures for April ended up USD2.10, or 0.2%, at USD1,314.00 an ounce.

On Monday, gold futures for April ended down USD6.60, or 0.5%, at USD1,311.90 an ounce.

Silver futures for March settled at USD15.690 an ounce, unchanged from previous close.

Copper futures for March ended down USD0.0180, at USD2.7720 per pound.

Although the congressional negotiators reached an agreement on border wall funding, President Donald Trump reportedly said he had yet to decide whether to support the agreement.

Meanwhile, investors were also tracking news on US-China trade issues. Later this week, US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He are scheduled to discuss US-China trade issues.

Copyright RTT News/dpa-AFX

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