New York, September 27 (QNA) – Gold prices jumped 1% on Tuesday as the dollar slipped, although expectations of more aggressive interest rate hikes by the US Federal Reserve kept the metal closer to a 2-1/2-year trough.
Spot gold rose 1.1% to $1,639.94 per ounce.
Prices had hit an April 2020 low of $1,620.20 on Monday.
US gold futures gained 0.9% to $1,647.70.
The dollar index fell 0.4% slipping off a two-decade peak scaled in the previous session. The benchmark 10-year Treasury yield was also off a 12-year peak marked on Monday.
Gold prices have declined 20% since rising above the key $2,000 level in March.
Spot silver climbed 2% to $18.70 per ounce, platinum rose 0.9% to $860.00 and palladium was up 0.7% to $2,060.01. (QNA)
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