Gold prices climb as oil falls and inflation fears ease
Gold prices rose on Tuesday, supported by lower oil prices, which helped ease concerns over inflation and interest rate hikes.
Key Takeaways
AIGold prices rose in spot trading on Tuesday in Singapore, supported by a decline in oil prices that helped ease concerns about inflation and potential interest rate hikes.
Spot gold increased by 0.7% to reach $4,067.06 per ounce, while US gold futures rose 0.9% to $4,065.60 per ounce.
Precious metals also gain
Meanwhile, spot silver rose 0.7% to $58.02 per ounce. Platinum gained 0.7% to $1,653.78, and palladium advanced 1.5% to $1,293 per ounce.