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Gold prices rose slightly on Tuesday, but hovered near the lowest level in over 7 weeks amid fears that the Federal Reserve (the US Central Bank) will keep interest rates at high levels for a longer period, while investors await a set of US economic data.
According to Bloomberg News Agency, gold in spot transactions rose 0.4 percent to $4130.58 per troy ounce, after recording the lowest level since August 5th in the previous session.
US gold futures fell 0.2 percent to $4162.2.
As for other precious metals, silver in spot transactions fell 0.6 percent to $60.62, platinum declined 1 percent to $1699.86, and palladium fell 0.5 percent to $1209.08.
Meanwhile, the dollar hovered near a two-month high today, supported by oil price volatility and the rapid rise in Treasury yields, but gains were limited as traders awaited US data this week in search of indicators on the path of interest rates.
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