Gold prices settled lower Tuesday, pressured by overall strength in the U.S. dollar, to tally a loss of roughly 1.1% for the month. Traders awaited Wednesday’s monetary policy announcement from the Federal Reserve as well as news of President Donald Trump’s pick to head the central bank, which is expected this week. December gold lost $7.20, or 0.6%, to settle at $1,270.50 an ounce.
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