Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures settled modestly higher Tuesday as the dollar fell ahead of the start of a key U.S. Federal Reserve meeting, and U.S. voters headed to the polls. Gold for December delivery added $2.40, or 0.2%, to $1,353.20 an ounce on the Comex division of the New York Mercantile Exchange. Silver returned to a 30-year high, pushing closer towards $25 an ounce.

Gold thrived on a trio of uncertainties hovering markets on Tuesday — election results and the new make-up of the U.S. Congress, the much-hoped-for Fed announcement about quantitative easing on Wednesday, and the ADP unemployment figures also due Wednesday, said Bill O�Neill, a principal with Logic Advisors in New Jersey. That was especially true in a day devoid of U.S. macroeconomic data. Investors widely expect Fed officials to announce steps to another round of bond purchasing, known as quantitative easing. See full story.