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Gold recovers after worst selling in 6 weeks
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Gold rose slightly on Tuesday, after a sharp rise in US bond yields, driven by bets that the Federal Reserve will raise interest rates earlier than expected, led to the worst bullion sale in six weeks in the previous session.
Spot gold was up 0.2% at $1,804.46 an ounce by 03:45 GMT, after prices hit a more than one-month high of $1,831.62 on Monday before reversing to close 1.5% lower. US gold futures rose 0.2 percent to $1,804.30.
Yields on benchmark 10-year Treasuries rose to a six-week high on Monday, with investors expecting the Federal Reserve to raise interest rates in March, soon after it finished reducing its bond purchases, and higher yields are making more expensive The alternative opportunity to own gold without interest.
Spot silver fell 0.4 percent to $22.77 an ounce, platinum increased 0.1 percent to $956.00, and palladium rose 1.2 percent to $1,847.69.
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