Gold prices rises on Asia , after dollar drops.
Gold prices rose for the second day in Asia supported by an easing US dollar and physical buying in Asia.
Spot gold was up by 0.3 percent at $1217.54 an ounce by 0322 GMT. In the previous session, the metal rose 0.4 percent, reversing three sessions of losses.
Spencer Campbell , general manager with Kaloti Precious metals in Singapore said that “Gold prices have factored in December (rate hike) move. Now it is a matter of bargain hunting.
Further, the dollar index which measures the greenback against a basket of currency , is now down by 0.2 percent at 100.860, falling further after snapping a 10-day rising streak on Monday.
Oil prices hit highest since October on hopes of OPEC led output cut.
Oil prices rose to their highest level since October as the market priced an expected output cut led by the producer cartel OPEC , but analyst though warned that failure of the agreement in any sense can outflow the supply glut even more by early 2017.
International Brent crude oil futures rose as high as $ 49.63 a barrel on Tuesday, up 1.5 percent from the last settlement and the highest since Oct 31.