WASHINGTON (dpa-AFX) - Gold futures settled higher on Tuesday, gaining for a second straight session, as an escalation in geopolitical tensions pushed up the demand for the safe-haven asset.
The U.S. dollar climbed higher in the European session, but pared gains subsequently, and has been struggling for direction in the New York session.
The dollar index, which dropped to 106.11 from 106.33, was at 106.23 a little while ago, down marginally from Monday's close.
Gold futures for November ended higher by $16.50 or about 0.63% at $2,627.10 an ounce.
Silver futures for November closed up $0.045 or about 0.14% at $31.208 an ounce, while Copper futures for November climbed to $4.1340 per pound, gaining $0.0260 or about 0.55%.
Russia updated its nuclear doctrine to enable the use of atomic weapons, soon after Ukraine fired US-manufactured missiles into Russian territory for the first time since the start of the war.
Kremlin Spokesperson Dmitry Peskov said the updated doctrine says Russia 'reserves the right to use nuclear weapons in the event of aggression with the use of conventional weapons against it or the Republic of Belarus, which creates a critical threat to sovereignty or territorial integrity.'
'Aggression against the Russian Federation by any non-nuclear state with the participation or support of a nuclear state is considered a joint attack,' Peskov added, according to NBC News.
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