• Gold prices hovered at a nearly three-month high on Tuesday, lifted by continued political uncertainty in the U.S. and Europe.
• Gold for April delivery closed up 0.3% at $1,236.10 a troy ounce on the Comex division of the New York Mercantile Exchange, its highest settlement since Nov. 10.
• Gold was given support as Tuesday saw the beginning of oral arguments over the President's travel ban in a federal court. Traders are concerned that U.S. President Donald Trump's policy agenda may face significant opposition, lending support to the precious metal as investors became unsure of the political climate in the United States.
• This led gold to four straight session increases, as traders are weighing the possibility that the U.S. president may have further actions blocked by the judiciary branch or opposition party in the legislative branch.
• Investors are waiting for the release of several Fed speeches and economic reports later this week. Weekly jobless claims and a speech by St. Louis Fed President James Bullard is due on Thursday and the consumer sentiment report is due on Friday.
• Silver for March delivery rose 6.3 cents, or 0.36 percent, to close at 17.756 dollars per ounce.
Reference: WSJ, Xinhua
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