Gold prices rise slightly today

Gold prices rose slightly on Tuesday after hitting a near one-month low in the previous session.

It came after U.S. interest rate hikes kept gains in check.

Spot gold increased 0.2 percent at $1,738.90 per ounce, as of 0128 GMT, after hitting its lowest since July 27 at $1,727.01 on Monday.

U.S. gold futures rose 0.2 percent to $1,751.70.

The dollar was down 0.1 percent against its rivals after hitting a more than one-month high overnight, making gold less expensive for buyers holding other currencies.

“U.S. central bank officials have a lot of time still before they need to decide how large an interest rate rise to approve at their Sept. 20-21 policy meeting,” Richmond Federal Reserve President Thomas Barkin said last week.

Fed funds futures are now putting prices in a 56.5 percent chance of a 75-basis-point rate rise by the Fed in September.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, stated that its holdings declined 0.15 percent to 987.56 tons on Monday from 989.01 tons on Friday.