Gold and Silver settled higher in futures market on Tuesday, with gains fueled by a drop in the U.S. dollar as traders eyed the presidential race in France and the U.K. prepared its exit from the European Union.

Gold futures rose 12.50 dollars or 1.01 percent to close at USD 1,246.50 per troy ounce at the COMEX division of the New York Mercantile Exchange.

Silver futures went up 0.144 dollar or 0.83 percent to close at USD 17.55 per troy ounce at the COMEX.