Dollar Weakness Drives Mixed Precious Metals Market

Gold and silver futures prices closed mixed on Tuesday, as the precious metals market navigated various factors. On the New York Mercantile Exchange, gold futures for December delivery dropped 0.84 percent to settle at $4,439.00 per ounce, while silver futures for December delivery rose 0.38 percent to close at $67.000 per ounce.

The U.S. dollar weakened in late trading on Tuesday, with the dollar index falling 0.13 percent to 98.787 against six major peers. This decline led to a strengthening of the euro and British pound against the greenback, as the euro rose to $1.1629 from $1.1624 and the British pound reached $1.3547 from $1.3542 in the previous session.

The Japanese yen also depreciated against the dollar, with 153.61 yen bought for every dollar, lower than 154.34 yen in the previous session. Similarly, the Swiss franc and Canadian dollar both appreciated against the dollar, as it lost to 0.809 Swiss francs from 0.8095 Swiss francs and 1.3781 Canadian dollars from 1.3815 Canadian dollars.