Gold futures on the COMEX division of the New York Mercantile Exchange ended higher on Tuesday as the U.S. dollar weakened slightly, offering a lift to the yellow metal.

The most active gold contract for February delivery went up 8.7 dollars, or 0.68 percent, to close at 1287.5 dollars per ounce.

The long Christmas weekend has shortened the trading week, and volumes were low as many market participants are expected to stay away until after New Year next Monday. European markets remained closed Tuesday fro Boxing Day.

The U.S. dollar index tipped 0.1 percent lower at 93.24, while stocks traded mixed. Gold, which is priced in dollars, tends to be sensitive to moves in its exchange rate. The two assets typically move inversely.

As for other precious metals, silver for March delivery added 16 cents, or 0.97 percent, to settle at 16.604 dollars per ounce. Platinum for January rose 0.5 dollar, or 0.05 percent, to close at 923.5 dollars per ounce.

On the economic front, U.S. home prices kept rising across the country in October, indicating that the housing sector continued steady growth.

According to a fresh report released by S&P Dow Jones Indices Tuesday, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 6.2-percent-annual-gain in October, up from 6.1 percent in the previous month.

In late New York trading, the euro increased to 1.1864 dollars from 1.1851 dollars in the previous session, and the British pound increased to 1.3379 dollars from 1.3372 U.S. dollars in the previous session. The Australian dollar rose to 0.7728 dollar from 0.7718 dollar.

The dollar bought 113.16 Japanese yen, lower than 113.31 yen of the previous session. The U.S. dollar lost to 0.9893 Swiss franc from 0.9901 Swiss franc, and it was down to 1.2697 Canadian dollars from 1.2732 Canadian dollars.