U.S. gold futures jumped to five-week highs on Tuesday
U.S. gold futures jumped to five-week highs on Tuesday, amid investment fund buying and short covering.
June delivery gold rose $3.20, or 0.73 percent, to $439 an ounce on the New York Mercantile Exchange's Comex division, near the top of a $435.70-to-$439.10 session range. It was its loftiest settlement since March 18.
Gold prices ticked higher, even though the dollar was stronger over the last few days, which would typically pressure the metals markets.
A rising dollar tends to depress gold because the dollar-priced metal gets more expensive for non-U.S. buyers.