UNITED STATES (OBSERVATORY) – Gold prices rose on Tuesday as some investors clung to their positions, while economic-cycle assets benefited from an increase in investors’ appetite for risk at the expense of the precious metal as the dollar recovered from a three-week low against the euro.
Gold jumped last week to a two-and-a-half-month high as tensions over Syria and US sanctions mounted on Russia. Tensions have ebbed since then, but concern about Russia’s sanctions continues.
Gold on the spot market rose 0.1 percent to $ 1,346.90 an ounce late in the US session, while US gold futures for June delivery fell 0.1 percent to settle at $ 1349.50 an ounce.
Among other precious metals, silver rose 1.2 percent to $ 16.79 an ounce, while platinum rose 1.4 percent to $ 936.90 an ounce, its highest level in six days.
Palladium rose 1.01 percent to $ 1011.60 an ounce after hitting its highest since March 1 at $ 1015.30.