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 9.9 U.S. dollars, or 0.78 percent, to settle at 1,273.60dollars per ounce.
The precious metal was given support as the U.S. Dollar Index fell by 0.12 percent to 98.63 as of 1838 GMT. The index is a measure of the dollar against a basket of major currencies.
Many investors believe that although the index measure has decreased, the jobs measure shows continuous strength, something which could influence the U.S. central bank' s potential rate hike increase later this year.
Investors believe the Fed may raise rates from 0.50 to 0.75 during the December FOMC meeting. According to the CME Group' s Fedwatch tool, the current implied probability of a hike from 0.50 to 0.75 is at 9 percent for the November 2016 meeting, and 79 percent at the December meeting.
Reference: Xinhua
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