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Metals Stocks: Gold drops as dollar closes in on 14-year high

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Gold returned to its losing ways on Tuesday, falling sharply as a leading dollar index revived its move to fresh 14-year highs.

Because a stronger U.S. unit makes dollar-priced gold less attractive to investors using other currencies, gold for February delivery GCG7, -1.09% fell $11.10, or 1%, to $1,131.50 an ounce.

Gold’s decline comes as Treasury yields remain elevated and stocks indicate a stronger start even as global financial markets continue to monitor the uncertainties around violent attacks on a Christmas market in Berlin on Monday.

The drop brings the contract within shouting distance of last week’s lowest settlement: $1,129.80, hit in early February.

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