Dollar index little change following ADP employment figures

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Gold settles lower, halts string of back-to-back gains

Gold futures ended firmly lower on Tuesday as the dollar advanced and as equity benchmarks took a breather from a sharp, technology and trade-fear inspired selloff on Monday. June gold finished off $9.60, or 0.7%, at $1,337.30 an ounce. The decline for the precious metal came after it rose sharply amid a flight to assets perceived as havens like gold. However, the asset retreated as the U.S. dollar, as gauged by the ICE U.S. Dollar Index , a measure of the buck against a half-dozen currencies, edged higher, up 0.1% at 90.17. Gold tends to lose its luster when the dollar strengthens because a stronger buck makes the commodity more expensive to purchase for buyers using other currencies. Meanwhile, the S&P 500 index and the Dow Jones Industrial Average saw modest gains in afternoon trade, suggesting that investors were favoring assets perceived as risky over those believed to be havens.

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