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Gold prices edged up on Tuesday
Gold prices rose slightly today, Tuesday, amid a decline in U.S. Treasury yields. The spot price increased by 0.3% to reach $4,357.31 per ounce, while U.S. December futures contracts climbed to $4,395. Despite the decreased attractiveness of gold as a hedge against inflation and geopolitical risks, expectations of a Federal Reserve interest rate hike limited its gains. The Fed raised rates by a quarter point last week and indicated future increases. Other precious metals also saw modest gains, such as silver, platinum, and palladium, reflecting market expectations of ongoing political and economic tensions.
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