WASHINGTON (dpa-AFX) - Despite a stronger dollar, gold futures settled modestly higher on Tuesday in thin holiday trade, as expectations of a few rate cuts in the first quarter of 2025 pushed up the demand for the safe-haven asset.
The dollar index, which very nearly fell below the flat line around mid morning, rallied to 108.30, gaining about 0.25%.
Gold futures for December closed up $7.70 or nearly 0.3% at $2,620.00 an ounce.
Silver futures for December settled higher by $0.086 or about 0.29% at $29.974 an ounce, while Copper futures for December climbed to $4.0480 per pound, gaining $0.0250 or 0.6%.
Atlanta Fed maintained the U.S. economic growth estimate for the fourth quarter at 3.1%, citing recent official data.
'After both the advance durable manufacturing report and the new home sales release from the US Census Bureau, the nowcast of fourth-quarter real gross private domestic investment growth increased from 1.2% to 1.3%,' Atlanta Fed said.
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