CHICAGO, Nov. 13 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange settled lower for a fourth straight session on Tuesday, as the U.S. dollar index slipped but remained near its highest level in over one year.
The most active gold contract for December delivery went down 2.1 dollars, or 0.17 percent, to close at 1,201.4 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, went down 0.2 percent to 97.361 as of 1930 GMT. It stayed at 97.57 Monday that was the index's highest level since June 2017, according to Market watch.
The gauge has climbed about 5.7 percent so far this year, partly boosted by expectations for further rates hike by the Federal Reserve. The Fed is expected to raise rates next month and three times in 2019. Higher interest rates can boost the dollar and dull demand for dollar-denominated commodities.
Gold usually moves in opposite directions with the U.S. dollar, which means if the dollar goes strong, gold futures will fall as gold, priced in U.S. dollar, becomes expensive for investors using other currencies.
As for other precious metals, silver for December delivery fell 3.4 cents, or 0.24 percent, to settle at 13.977 dollars per ounce. Platinum for 2019 went down 4 dollars, or 0.47 percent, to close at 841.3 dollars per ounce.
