Gold settles back above $1,200 an ounce

Gold prices turned higher on Tuesday to top $1,200 before the final trading day of the year, more than reversing Monday’s losses.

Gold for February delivery GCG5, +0.11%  advanced $18.50, or 1.6%, to settle at $1,200.40 an ounce, after touching a high on the session of $1,210.90 an ounce.