Gold futures post modest gains to end two-session skid

Gold prices closed up modestly on Tuesday as weakness in the U.S. dollar delivered a boost to the yellow metal.

December gold GCZ6, +0.82% rose $5.40, or 0.4%, to settle at $1,346.70 an ounce, ending two consecutive sessions of losses for gold.

Technical traders said some short-covering, or buying back borrowed securities to close an open short position, emerged in the futures market to account for some of Tuesday’s rebound.

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