Dollar fell to a 14 month low as compared to Gold that rose closer to last week’s record highs above $1070 an ounce on Tuesday. Dollar fell against a basket of six major currencies. This has helped bullion as an alternative currency.
The news article is quoted as saying:
Record speculative net long futures positions, weak physical demand and scrap hitting the markets as prices hover near record peaks are slowing gold’s climb back to highs.