Gold futures ended lower Tuesday, following moves in the dollar that have weighed on the precious metal in recent weeks amid concerns about trade wars between economic superpowers and tightening monetary policy in the U.S.
August gold lost $4.20, or 0.3%, to settle at $1,255.40 an ounce after tacking on about the same percentage amount on Monday. The most popular fund tracking gold, the SPDR Gold Shares was 0.3% lower.
September silver traded 5.2 cents, or 0.3%, lower at $16.087 an ounce. The iShares Silver Trust shed 0.5%.
A strengthening dollar proved the most significant headwind for precious metals on Tuesday with one measure of the buck, the ICE U.S. Dollar Index which reflects the greenback’s performance against a half-dozen currencies, rising by nearly 0.1% to 94.158.
Source : Marketwatch