Gold futures in New York rose on Tuesday which erased earlier losses as the dollar set back.
The dollar index climbed as much as 1.7 percent before paring gains, and gold futures for February delivery on the New York Mercantile Exchange touched as low as 838.8 U.S. dollars an ounce.
However, the dollar turned soft most of day, which supported the gold. And generally positive equity market action, higher energy prices and strength in the industrial metals probably prompted some fresh buyers to return to the gold market.
In the end, the gold market gained ground. February gold rose 8.20 dollars, or 1 percent, to 866 dollars an ounce.
Source:Xinhua
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