Gold futures ended higher on Tuesday since the US dollar headed lower and investors were keen to look at the Federal Reserve’s recent minutes of meeting due midweek from expecting for clues on plans for interest rates.
Gold futures for December delivery added USD 6.40 or 0.5% to settle at USD 1,281.70 per ounce on the primary market, Comex of the NY Mercantile, while spot gold was up 0.3% at USD 1,280.63 an ounce.
Conversely, Comex copper futures ended higher on Tuesday. Copper futures for December delivery rose 1.2% to settle at USD 3.129 a pound on the Comex metals division of NY Mercantile Exchange.
Meantime, oil extended gains after data showed a considerable draw in inventories. U.S. light crude added 25 cents to USD 57.08 while Brent crude oil was flat at USD 62.57.