Gold prices climb as dollar weakens

Gold prices rose on Tuesday after oil prices dropped to their lowest level in a week.

Spot gold gained 0.9 percent to reach $4,090.79 per ounce, while US gold futures for August delivery increased 0.5 percent to $4,093.

The US dollar index slipped 0.1 percent, making dollar-priced gold less expensive for holders of other currencies.

In energy markets, Brent crude futures fell 8 percent to a one-week low.

Among other precious metals, spot silver rose 1.3 percent to $58.94 per ounce, platinum climbed 2.7 percent to $1,631.42, and palladium jumped 4.1 percent to $1,294.75.