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2018.01.2301:44:00UTC+00Gold Prices Climb on Weak Dollar

Gold prices increased on Tuesday as the dollar wavered around three-year lows.

The precious metal was mostly unaffected by the shutdown in the previous session, trading in a tight range defined on the low end by safe-haven demand amid the U.S. government closure and on the high end by the resiliency of the wider financial markets.

Spot gold climbed 0.2 percent to $1,336.26 an ounce, up for a third consecutive session.

U.S. gold futures for February delivery increased 0.3 percent to $1,336.00 an ounce.

The U.S. Senate voted on Monday to pass a temporary spending plan through Feb. 8 to end the government shutdown.

"Gold can gain from here as there could be some correction in the equity markets and cryptocurrencies have started to fall again. We can see more investors coming into gold, which could be positive for prices," according to Hareesh V., head of commodity

research at Geojit Financial Services.

Spot gold looks neutral in a range of $1,329-$1,341 an ounce and an escape could suggest a direction, Reuters Technical analyst Wang Tao said.

The dollar index, against a basket of six major currencies, fell 0.1 percent to 90.347, not far from three-year lows notched last week.

In other precious metals, silver climbed 0.1 percent to $17.03 per ounce. Palladium fell 0.2 percent to $1,095.99 per ounce. Platinum was almost flat at $995.30 per ounce, down from more than four-month highs touched in the previous session.

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