WASHINGTON (dpa-AFX) - Gold futures tumbled Tuesday as the dollar logged its fourth consecutive day of gains.
With the Dow Jones Industrial Average briefly cracking 23,000 for the first time, increased risk appetite also hurt safe haven gold. December gold was down $16.70 an ounce to $1,286.30 an ounce.
Traders weighed a flurry of economic data, including a report showing industrial production rebounded by slightly more than expected in the month of September.
The report said production rose by 0.3 percent in September after sliding by a revised 0.7 percent in August. Economists had expected production to edge up by 0.2 percent compared to the 0.9 percent drop originally reported for the previous month.
Homebuilder confidence in the U.S. has unexpectedly seen an improvement in the month of October, according to a report released by the National Association of Home Builders on Tuesday.
The report said the NAHB/Wells Fargo Housing Market Index surged up to 68 in October after dropping to 64 in September. Economists had expected the index to come in unchanged compared to the previous month.
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