Gold up for fifth successive trading day

Chicago, Feb 10 (IANS) Gold futures on the COMEX division of the New York Mercantile Exchange closed slightly higher for five trading days in a row Tuesday, as a weaker US dollar gave support to the precious metal.

The most active gold contract for April delivery rose $0.70, or 0.06 percent, to settle at $1,198.60 per ounce.

US dollar slumps amid global turmoil

The US dollar fell against most major currencies on Tuesday amid a sell-off in global stocks and declining oil prices.

In late New York trading, the euro climbed to $1.1289 from $1.1198 in the previous session, while the dollar bought 114.90 Japanese yen, lower than 115.34 yen of the previous session.

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