Gold futures on the COMEX division of the New York Mercantile Exchange rose on Tuesday due to a weakened U.S. dollar.
The most active gold contract for April delivery increased by 0.31 percent to close at 2,050.90 dollars per ounce.
Gold was also supported by escalated geopolitical tension in the Middle East.
On Tuesday, the Federal Reserve began its January monetary policy meeting, which will conclude with an announcement on Wednesday.
Additionally, the U.S. monthly jobs report is scheduled to be released on Friday.
Economic data released on Tuesday showed mixed results – the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 5.1-percent annual gain in November, up from a 4.7-percent rise in the previous month.
The Conference Board reported that the consumer confidence index rose for the third straight month to 114.8 in January from 108 in December.
The U.S. Labor Department also reported that job listings rose to 9 million in December from a revised 8.9 million in November.
Despite gold’s rise, silver for March delivery fell 0.11 percent to close at 23.225 dollars per ounce. On the other hand, platinum for April delivery fell 0.70 percent to close at 931.70 dollars per ounce.
