Gold stabilizes despite dollar's surge

Shafaq News / Gold prices remained stable on Tuesday despite the rise in the dollar and Treasury bond yields, as investors awaited the minutes of the latest Federal Reserve meeting for further clues on the timing of interest rate cuts.

The spot price of gold settled at $2018.03 per ounce by 03:41 GMT. Most US markets were closed on Monday for a holiday.

US gold futures rose 0.3% to $2029.10 per ounce.

The dollar index edged up 0.1%, and yields on 10-year Treasury bonds rose near four percent, making dollar-denominated bullion less attractive to foreign buyers.

As for other precious metals, platinum fell 0.6% to $893.16 per ounce in spot trading, while palladium declined 0.8% to $946.41 per ounce. Silver dropped 0.4% to $22.93 per ounce.