Gold prices closed down slightly on Tuesday, as the U.S. dollar surged early on, and the markets began to digest the yellow metal’s recent gains, including gold hitting two and a half month highs on Monday.
Gold’s price chart has improved substantially over the past several weeks, in sharp contrast to mid-January levels when the bears were firmly in control. The subsequent bounce has stemmed from growing political uncertainties as well as a downturn in the U.S. dollar, which helps gold’s price rise in dollar terms.