Gold prices rise as US rate hike expectations ease
Gold prices climbed on Tuesday, supported by reduced expectations of a US interest rate hike, despite a stronger dollar and higher Treasury yields.
Key Takeaways
AIGold prices rose in Tuesday trading, supported by declining expectations that the US Federal Reserve will raise interest rates this month, despite continued gains in the US dollar and Treasury yields.
Spot gold increased by 0.7% to $4,168.89 per ounce. US gold futures also rose 1% to $4,196.90 per ounce.
Performance of other precious metals
Meanwhile, silver gained 0.6% in spot trading to reach $61.4419 per ounce.
In contrast, platinum fell 0.5% to $1,712.01 per ounce, while palladium dropped 0.7% to $1,164.73 per ounce.