CHICAGO, Jan. 22 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange edged slightly higher Tuesday, as the precious metal was boosted by its haven status and weakened U.S. dollar.
The most active gold contract for February delivery went up 0.80 dollar, or 0.06 percent, to settle at 1,283.40 U.S. dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, went down 0.08 percent to 96.24 as of 1830 GMT.
Gold usually moves in opposite directions with the U.S. dollar, which means if the dollar goes strong, gold futures will fall as gold, priced in U.S. dollar, becomes expensive for investors using other currencies.
The Dow Jones Industrial Average fell 397.63 points, or 1.61 percent as of 1845 GMT. The S&P 500 and Nasdaq also followed Dow's decline. When equities post losses, investors may start to buy safe-haven assets, such as gold.
As for other precious metals, silver for March delivery was down 7.40 cents, or 0.48 percent, to settle at 15.325 dollars per ounce. Platinum for April delivery dropped 10.90 dollars, or 1.36 percent, to close at 791.20 dollars per ounce.
