Gold prices closed up modestly on Tuesday as weakness in the U.S. dollar delivered a boost to the yellow metal. December gold rose $5.40, or 0.4%, to settle at $1,346.70 an ounce. Gains for the precious metal came as the buck retreated 0.2% against its main rivals, as measured by the ICE U.S. Dollar Index . The advance for gold ends two sessions of losses for the metal, after a healthy reading of nonfarm-payrolls on Friday resulted in a surge in stocks, viewed as risky, and a $23 drop in gold futures, amid heightened expectations of a rate hike by the Federal Reserve. Higher rates can boost the value of the greenback, making dollar-priced assets more expensive to buyers using other currencies.
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