Gold prices extended their gains on Tuesday to settle at their highest since early September, even as a key U.S. dollar index edged up from a three-year low it hit on Monday. “The near-term trend remains higher for gold, and that is in line with inflation taking hold,” said analysts at the Sevens Report. “That, in turn, is weighing on real interest rates, which is bullish for gold.” February gold rose $2.20, or about 0.2%, to settle at $1,337.10 an ounce–the highest since Sept. 8, according to FactSet data.
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