Gold Prices Settle Higher As U.S. Dollar Drops, Equities Weaken

By Myra P. Saefong Markets MarketWatch Pulse

Gold prices settled higher Tuesday, recouping a small part of the hefty losses from a day earlier. Investment demand for the metal got a boost from a sharp decline in the dollar as well as a broad fall in U.S. equities. But prices pared much of their earlier gains as Federal Reserve Chairwoman Janet Yellen started speaking about global economic issues at an event in London in the minutes ahead of gold's price settlement. August gold rose 50 cents, or less than 0.05%, to settle at $1,246.90 an ounce.

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