The euro's gains against the U.S. dollar came despite deteriorating enthusiasm for Spain's banking sector's success prospects after the nation sought aid over the weekend. Greece is preparing for a second round of national elections on Sunday after the early May rendition did not produce a clear leader. The Aegean nation is facing the possibility of a 16-nation euro bloc that does not include it.
"You're starting to see some physical buying and some fear buying," senior market strategist Charles Nedoss with Olympus Futures told The Wall Street Journal, noting questions remain about central bank intervention. "Maybe domestically we don't have the bad data that's falling off the cliff, but I think the rest of the world is in that mode."
At 11:53 a.m. on Tuesday, gold futures advanced 1.25 percent, a $19.90 climb to $1,616.70 per troy ounce.
Traders and investors are growing leery of the bailout aid helping the banking sector of Spain, according to The Wall Street Journal. The nation hosts the euro zone's fourth largest economic system.
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