07.08.201814:21:00UTC+00Gold Settles Slightly Higher

Gold prices edged up marginally on Tuesday after the greenback weakened against major currencies, as U.S.sanctions against Iran took effect.

Gold futures for December delivery ended up $0.30, or less than 0.1%, at $1218.00 an ounce.

On Monday, gold futures ended down $5.50, or 0.40%, at $1,217.70 an ounce.

The yellow metal has shed over 10% in nearly four months, despite persisting worries about trade war. Gold's fall in recent weeks is due largely to the dollar's upmove on imminent hikes in U.S. interest rates.

The dollar index was 0.12, or 0.13%, to 95.07, after having drifted down to 94.81 earlier in the day.

The Fed, which kept rates unchanged last week, hinted at two rate hikes this year, one in September and the other in December, and two more in 2019.

Silver futures for September were up slightly at $15.360 an ounce, while Copper futures rose $0.017, or 0.6%, to 2.748 per pound.