Gold futures settled lower on Tuesday, after spending almost the entire session in negative territory as global equities rallied after Britain's new finance minister announced a comprehensive retreat on the U.K. government's tax-and-spending plans on Monday in a bid to calm jittery markets and restore the government's credibility.
The dollar index, which climbed to 112.46 in the Asian session, dropped to 111.77 around mid morning before surging above the flat line. It was last seen at 112.13, up marginally from the previous close.
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