The price of gold on Tuesday morning is declining, being below $1,670 per troy ounce, trading data show.

The price of December gold futures on the New York Comex Exchange was down $5.7, or 0.34%, to $1,669.5 a troy ounce. December silver futures were down 1.06% to $19.407 an ounce.

The dollar index (exchange rate against a basket of currencies of six U.S. trading partners) rose 0.24% to 113.42 points. The more expensive US dollar restrains the demand for gold, which in this case becomes less accessible for the investors, holding other currencies.