Gold prices increase again on Tuesday

Gold prices rose for a second day, reaching a one-week high on Tuesday as the US dollar retreated from recent highs. Investors eagerly await Federal Reserve officials’ comments for insight into interest rate cut policy.

Spot gold prices rose at 9:15 GMT by 0.60 per cent to $2,627.27 per ounce, compared to the previous closing price of $2,611.86.

Meanwhile, US gold futures increased 0.65 per cent to $2,631.60, compared to Friday’s closing of $2,614.6.

Attribution: Amwal Al Ghad English, Reuters

Subediting: M. S. Salama