02:00 PM EST, 11/11/2025 (MT Newswires) -- (Updates prices.)

Gold traded lower midafternoon on Tuesday even as the dollar weakened again as U.S. legislators reached a weekend deal to re-open the government.

Gold for December delivery was last seen down US$8.10 to US$4,113.90 per ounce, sticking below its Oct.20 record of US$4,359.40 per ounce.

Republican senators reached a deal with a handful of their Democratic counterparts to end the 41-day shutdown of the U.S. government that has hobbled the country's economy but also cut into government spending. While the deal awaits approval from the House, government spending can resume, reviving worries over U.S. deficit spending.

"Since Friday, gold has gained 3.2% ... helped by a renewed focus on US fiscal concerns as a government reopening would enable fresh spending financed through additional borrowing. The technical backdrop has added fuel, with prices pushing through key resistance levels on Monday and drawing in momentum buyers," Saxo Bank wrote.

A weakening dollar is also supporting the precious metal. The ICE dollar index was last seen down 0.2 points to 99.4, dropping for a fourth-straight session. Treasury yields were unavailable with bond markets closed for the Veterans Day holiday.