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Gold hovers below record peak as US dollar, yields firm after upbeat data

Gold hovers below record peak as US dollar, yields firm after upbeat data
2 Apr 2024 11:12

WORLD CAPITALS (WAM)

Gold prices on Tuesday hovered below a record high hit in the previous session, as the dollar and Treasury yields held firm after strong US data flagged doubts on whether the Federal Reserve would deliver three interest rate cuts this year.

According to Reuters, spot gold edged up 0.2% at $2,253.94 per ounce, as of 0624 GMT, holding below an all-time high of $2,265.49 hit on Monday. Also, US gold futures gained 0.8% to $2,274.60.

Elsewhere, spot silver rose 1.1% to $25.37 per ounce, platinum was up 0.6% at $907.45 and palladium climbed 1.2% to $1.008.44.

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