Gold prices edged higher on Tuesday, supported by a weaker U.S. dollar languishing near three-year lows after U.S. lawmakers reached a deal to end a government shutdown.
Comex gold futures were at $1,336.10 a troy ounce by 3:15AM ET (0815GMT), up around $4.00, or 0.3%, from the last session’s closing price.
Meanwhile, silver futures tacked on 5.0 cents, or 0.3%, to $17.04 a troy ounce.
The Senate reached a short-term compromise to end a government shutdown that began last week. The stopgap bill approved by the Senate on Monday will keep the U.S. government open through Feb. 8.
The House of Representatives subsequently voted and passed the bill to reopen the government, which Trump then signed into law.
The dollar’s index against a basket of six other major currencies was last at 90.30, not far from the three-year trough of 89.96 set last week.
Gold, which is priced in dollars, often trades inversely with the dollar, as moves in the U.S. unit can influence the attractiveness of the precious metal to holders of other currencies.
In other metals action, palladium prices fell 0.4% to $1,088.05 an ounce.
Sister metal platinum meanwhile was little changed at $996.60 an ounce, down from over four-month highs touched in the previous session.
March copper shed 0.4% to $3.187 a pound.
