Gold futures rose Tuesday in very choppy trading
Gold futures rose Tuesday in very choppy trading, as investors eyed violence in the Middle East, declining energy prices and the rising dollar.
Gold for August delivery closed up $4.80 at $618.0 an ounce on the New York Mercantile Exchange.
Gold moved in both directions on Tuesday, rising on dimmed hopes for peace in the Middle East and falling on the surging dollar.
The dollar posted gains against major counterparts after stronger-than-expected housing and consumer confidence data revived rate expectations. See currencies.
Crude-oil futures dropped on Tuesday. Crude for September delivery closed down $1.30 at $73.75 a barrel on the New York Mercantile Exchange. The contract rose Monday as natural-gas futures reached a more than one-month high on expectations triple-digit temperatures across much of the U.S. would boost energy demand. See futures movers.