WASHINGTON (dpa-AFX) - Gold futures settled higher on Tuesday as the dollar shed ground amid bets the Federal Reserve will announce a few rate cuts this year.
Investors also assessed the possible consequences of U.S. President Donald Trump's policies in his second term.
The dollar index dropped to 107.93, losing about 1.3%.
Gold futures for January closed up $10.70 or about 0.39% at $2,755.00 an ounce, the highest settlement in nearly four months.
Silver futures for January settled at $31.311 an ounce, gaining $0.360 or about 1.16%, while Copper futures for January dropped to $4.3325 per pound, down $0.0360 or about 0.8% from previous close.
After being sworn-in as the 47th President of United States on Monday, Trump issued a slew of executive orders, repealing dozens of directives issued by former president Joe Biden.
Trump pulled the U.S. out of the Paris Agreement and the World Health Organization and signed an executive order to delay the ban on short-video application TikTok by at least 75 days.
Trump spoke about potential 25% tariffs on Canada and Mexico as early as February 1, citing concerns over illegal immigration at the U.S. border.
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