Gold prices rose 1.5 percent on Tuesday to a three-week high, as the dollar and U.S. Treasury yields tumbled, amid investors’ hopes that the U.S. Federal Reserve will ease its sharp interest rate hike policy.
Spot gold rose 1.5 percent to $1,723.99 an ounce by 1817 GMT, its highest level since September 13.
US gold futures rose 1.7 percent to $1,730.50.
The dollar index continued to fall, making gold less expensive for buyers abroad. Ten-year US Treasury yields also fell.
As for other precious metals, the price of silver in spot transactions rose by 1.2 percent to $ 21.01 an ounce, the highest level in more than three months, following recording yesterday the best daily performance since 2008.
The price of palladium also jumped 3.9 percent to a five-month high of $2,306.71, and platinum 2.8 percent to $928. (Archyde.com)
