Gold retreats as dollar index taps highest levels since mid-July

15

Gold settled lower Tuesday, with dollar-denominated prices giving back nearly half of what they scored a day earlier as a key index tracking the dollar reached its highest levels since mid-July. “Gold is actually showing some resiliency here, holding to its recent range in the face of new 15-week highs in the dollar index,” said Peter Grant, chief market analyst with gold broker USAGOLD. The ICE U.S. Dollar Index












DXY, +0.26%










rose to as high as 95.149 Tuesday, with the strength “limiting the upside for gold, amid persistent expectations of further monetary policy divergence,” said Grant. “The market still expects the Fed to hike in December, while most of the other central banks are maintaining dovish tones.” December gold












GCZ7, -0.50%










fell $5.80, or 0.5%, to settle at $1,275.80 an ounce.

Source