WASHINGTON (dpa-AFX) - Gold prices drifted lower on Tuesday, extending losses to a third straight session, as the dollar continued to climb higher, and investors chose to go in for riskier assets amid expectations of business-friendly policies during Donald Trump's second term.
The dollar index advanced to 106.18 before easing to 106.03, but still remained nearly 0.5% up from the previous close.
Gold futures for November closed down $11.20 or about 0.43% at $2,600.00 an ounce, a near two-month low.
Silver futures for November ended higher by $0.146 or nearly 0.5% at $30.686 an ounce, while Copper futures for November dropped to $4.1175 per pound, down $0.0935 or about 2.22%.
Investors are looking ahead to key U.S. inflation readings, reports on retails sales and industrial production, and commentary from Federal Reserve officials due this week.
Meanwhile, according to reports, Trump is likely to appoint two men with track records of harshly criticizing China for key positions in his new administration.
It was said that Trump will appoint pro-India Congressman Michael Waltz as his National Security Adviser and foreign policy hardliner Marco Rubio as Secretary of State to prioritize U.S.-India relations and counter Chinese aggression in the Indo-Pacific region.
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