CHICAGO, June 6 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose more than 1 percent on Tuesday, as geopolitical tensions lifted investment demand for the precious metal.
The most active gold contract for August delivery went up 14.8 dollars, or 1.15 percent, to settle at 1,297.5 dollars per ounce.
Analysts said uncertainty surrounding a rift between Qatar and other Middle East nations, the upcoming election in Britain and European Central Bank meeting lifted investment demand for the precious metal.
Weakness in the U.S. dollar also helped to increase the precious metal prices as the U.S. Dollar Index was down 0.3 percent to 96.52 as of 1930 GMT.
The index is a measure of the dollar against a basket of other major currencies. Gold and the dollar typically move in opposite directions, which means if the dollar goes own, gold futures will rise.
As for other precious metals, silver for July delivery went up 12.9 cents, or 0.73 percent, to close at 17.71 dollars per ounce. Platinum for July delivery rose 5.7 dollars, or 0.6 percent, to settle at 963.3 dollars per ounce.
