Commodity Market Update : Epic Research Malaysia

Gold prices jumped Tuesday as the dollar eased against major currencies amid economic and political news, and as equities continued to get stuck in a tight trading range.

Gold for December delivery GCZ4, -0.28% gained $13.60, or 1.2%, to settle at $1,197.10 an ounce. December silver SIZ4, -0.21%  tacked on 12 cents, or 0.7%, to $16.17 an ounce.

A day earlier, gold prices failed to defend back-to-back gains, feeling the weight of declining institutional demand for the precious metal.

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