Gold Rises as Dollar Falls on Deteriorating Consumer Confidence

Gold prices rose on Tuesday, supported by the decline of the U.S. Dollar (USD) against major currencies, and with stock markets showing a mixed performance.

In addition, a slight decline in U.S. consumer confidence provides support for safe haven assets, including the yellow metal.

Gold futures for June delivery increased by $13.50, or 0.7%, to close at $1,898 per ounce.

The gold’s most active contracts failed to restore the $1,900 level.