Gold prices edge higher ahead of US Federal Reserve rate decision

Gold prices rose in spot trading on Tuesday, supported by fresh buying as investors awaited the US Federal Reserve's interest rate decision later in the day.

Spot gold was up 0.1% at $4,032.59 per ounce, while US gold futures for August delivery slipped 0.2% to $4,031.90.

Performance of other precious metals

Meanwhile, spot silver gained 0.9% to $57.63 per ounce.

In contrast, platinum fell 1.1% to $1,586.84 per ounce, and palladium dropped 1.3% to $1,253.18.