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Gold Rises on Weak U.S. Dollar

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Tuesday as the U.S. dollar weakened.

The most active gold contract for December delivery rose 11.00 U.S. dollars, or 0.59 percent, to close at 1,875.30 dollars per ounce.

Unrest in the Middle East also supported gold.

Economic data released Tuesday were mixed. The National Federation of Independent Business said that its small-business optimism index fell to 90.8 in September from 91.3 in August.

The U.S. Commerce Department reported that U.S. wholesale inventories slipped 0.1 percent in August from the revised July level.

Investors are looking forward to the Federal Reserve’s September monetary policy meeting minutes, due out Wednesday, for some clues to the future policy, as well as the U.S. Consumer Prices Index (CPI) data, due on Thursday.

Silver for December delivery rose 2.90 cents, or 0.13 percent, to close at 21.953 dollars per ounce. Platinum for January delivery rose 1.40 dollars, or 0.16 percent, to close at 890.20 dollars per ounce. 

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