Gold Prices Remain Supported by Weak Dollar

Investing.com – Gold prices remained higher on Tuesday, as sentiment on the U.S. dollar remained fragile even after the U.S. government shutdown ended.

Comex were up 0.33% at $1,336.40 a troy ounce by 08:30 a.m. ET (12:30 GMT).

The dollar only mildly recovered after Congress on Monday to fund the government for around three weeks and President Donald Trump signed the bill, ending the three-day government shutdown.

Lawmakers have been trying to reach a deal on immigration, which is viewed as crucial to breaking the deadlock.

This is the first U.S. government shutdown since 2013. That year, the government was shut down for 16 days.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 90.19, still close to Friday’s three-year low of 89.96.

Gold is sensitive to moves in the dollar. A weaker dollar makes gold less expensive for holders of foreign currency.

Elsewhere on the Comex, were little changed at $17.00 a troy ounce.

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