WASHINGTON (dpa-AFX) - Gold prices extended gains on Tuesday amidst the dollar's plunge. The greenback's retreat came ahead of a vote over U.S. President Donald Trump's landmark tax-cut and spending legislation. Both Spot Gold and Gold Futures extended gains in Tuesday's trade.
The six-currency Dollar Index declined 0.26 percent to trade at 96.62. The day's trading range was between 96.38 and 96.84.
Spot Gold and Gold Futures for August settlement had both rallied 1.5 percent on Monday.
Gold Futures for August settlement rallied 1.6 percent overnight to trade at $3,360.30, versus the previous close of $3,307.7. The day's trading range has been between $3,370.10 and $3,313.50 as compared with the 52-week trading that ranged between $2,327.40 and $3,509.90. With today's rally, weekly gains stand at 1.2 percent and losses over the past month stand at 1.1 percent. The price surge over the 3-year horizon is more than 86 percent.
Spot Gold added 1.4 percent overnight to trade at $3,348.80 per troy ounce. The day's trading range has been between $3,302.39 and $3,357.97. Spot Gold had ranged between $2,319.24 and $3,500.33 over the past 52 weeks.
At current prices, Gold Futures and Spot Gold have both gained close to 42 percent over the past year.
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