Commodities Little Changed As Dollar Steadies

SARA LEPRO

NEW YORK (AP) — Commodities prices stalled Tuesday as investors got little direction from the dollar, which has been a major force behind trading in recent weeks.

Trading was quiet across all financial markets as investors curbed their buying of commodities, stocks and bonds. Most markets again took their cue from the dollar, which was holding steady after sinking to a 15-month low the day before. That drop in the dollar on Monday helped send gold to a new record and stocks to their highest levels in more than a year.

Record low interest rates have put pressure on the dollar this year, making higher-yielding assets like stocks and commodities more appealing.

On Tuesday, the ICE Futures US dollar index, a closely watched gauge of the dollar against other currencies, was roughly flat in afternoon trading.

Gold for December delivery added $1.10 to $1,102.50 an ounce on the New York Mercantile Exchange.

December silver fell 25.8 cents to $17.222 an ounce, while December platinum gave up $16 to $1,348 an ounce. Palladium futures also fell.