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Gold Futures Settle Marginally Higher

Gold prices edged higher on Tuesday, shrugging off a weak spell seen earlier in the session, after stocks pared early gains and turned flat.

The dollar's fall from higher levels contributed as well to the yellow metal's positive close. The dollar index, which advanced to 96.88 in morning trades, dropped to a low of 96.64 later on in the session.

Gold futures for August ended up $1.90, or 0.1%, at $1,331.20 an ounce, off the day's low of $1,323.60.

On Monday, gold futures ended down $16.80, or 1.3%, at $1,329.30 an ounce, snapping an 8-day winning streak.

Silver futures for July ended up $0.101, at $14.740 an ounce, while Copper futures for July settled at $2.6715 per pound, up $0.0100 from previous close.

Despite U.S. President Donald Trump's threat that his administration will slap more tariffs on Chinese goods if China's President Xi Jinping doesn't attend the upcoming G20 summit, stock prices moved higher thanks largely to fresh stimulus announced by the Chinese government.

Expectations of additional stimulus from several central banks across the globe helped keep sentiment positive.

However, U.S. stocks lost ground in afternoon trades, prompting investors to seek the safe haven asset.

In economic news from U.S., the Labor Department said its producer price index for final demand inched up by 0.2% in May after rising by 0.2% in April. The uptick in prices matched economist estimates.

The report also said the annual rate of growth in producer prices slowed to 1.8% from 2.2% in April, coming in below estimates for an increase of 2%.

The annual rate of core producer price growth also dipped to 2.3% in May from 2.4% in April, matching expectations.

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