Economic news

Gold on track to climb above $1,200

Gold edged towards the crucial $1,200 mark on Tuesday that some analysts consider as a main determinant for metal’s fate in the near future. December gold futures added 0.4 percent, to $1,199.90 an ounce.

Gold jumped 0.9 percent, to trade at $1,194.60 in the previous session. On Monday it posted the strongest single-session gain of August so far, as prices recovered from their worst weekly loss in more than a year.

September silver contracts surged 0.7 percent, to $14.77 an ounce. Platinum for October delivery soared 1 percent, to $801.50 an ounce, after hitting trough not seen in 10 years. September palladium futures were up 0.7 percent, at $904.60 an ounce.

The ICE U.S. Dollar Index DXY shed 0.4 percent to 95.55 after President Trump criticized the U.S. central bank over tightening monetary policy.

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