NEW YORK—Wall Street’s fears about fighting in the Middle East eased Tuesday, sending oil and gold prices lower as commodities investors looked to close the books for the year.

Investors sold gold after it had advanced Monday amid fighting between Israel and Hamas leaders in Gaza. Contracts for February delivery of the metal fell $1.70 to settle at $873.60 an ounce on the New York Mercantile Exchange.

Gold remains above levels of mid-November when it was hit by heavy selling by hedge funds and other large investors trying to raise cash.

The price of oil also...

Log-In to view full story or view our Registration Guide.