The U.S. dollar’s strength against major rivals weighed on gold Tuesday, with the precious metal slipping back below the key $1,200 mark.Gold for February delivery GCG5, +0.08% fell $18.70, or 1.5%, to settle at $1,199.40 an ounce after closing above $1,200 on Monday for the first time since October. Meanwhile, March silver SIH5, -0.49% shed 24 cents, or 1.4%, to $16.46 an ounce.
The ICE U.S. Dollar Index DXY, -0.03% rose 0.8% to 88.64 after hitting its highest level in over four years earlier in the session.
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