Gold gains as dollar falls in the wake of Japan economic moves

Gold prices jumped Tuesday as the dollar eased against major currencies amid economic and political news, and as equities continued to get stuck in a tight trading range.

Gold for December delivery GCZ4, -0.28% gained $13.60, or 1.2%, to settle at $1,197.10 an ounce. December silver SIZ4, -0.21%  tacked on 12 cents, or 0.7%, to $16.17 an ounce.

A day earlier, gold prices failed to defend back-to-back gains, feeling the weight of declining institutional demand for the precious metal.