Gold prices rose above $1,900 an ounce during these trading moments, today, Tuesday, despite US Treasury yields rising to their highest levels in nearly 16 years.

This comes in conjunction with investors' anticipation of the meeting of central bank governors this week to obtain more clues about the future of interest rates.

Gold and the dollar now

Gold futures rose 0.26% to $1928 an ounce.

While spot gold contracts rose by 0.25% to $1,900 an ounce.

On the other hand, the dollar index fell by 0.15% to 103,050 points.

gold when settling yesterday

Gold futures prices rose at the end of the first sessions of the week, yesterday, Monday, amid investors' anticipation of new signals regarding the future of interest rates during the meeting of central bankers in Jackson Hole.

And the yellow metal contracts for December delivery increased by 0.35%, or the equivalent of $ 6.5, at the close, to $ 1923 an ounce.

A survey of consumer expectations published by the Federal Reserve Bank of New York on Monday showed that the expected wages of respondents to the survey rose to record levels, as the lowest wage they would accept for a job was $78,645,000, from $72,873,000 a year earlier.

The US Federal Reserve is closely following labor market data and wage indicators, due to their importance in its decisions to determine the interest rate in the future.

The beginning of the return to the market

Potential buyers have been waiting to see how far gold can go, and this could be the beginnings of their return to the market, said Clifford Bennett, chief economist at ACY Securities.

He added that any correction of the US dollar from the recent rises may immediately cause strong gains in the gold market.

The yield on the 10-year Treasury note reached its highest level in November 2007, as speculation intensified that the Federal Reserve would keep interest rates higher for longer.

Higher interest rates increase bond yields and strengthen the dollar, making gold less attractive.

Jim Wyckoff, market analyst at Kitco, said that gold purchase requests remain at a reasonable level, but are considered weak at the present time amid speculation about the Fed's continued tightening of monetary policy, as well as the continued rise in Treasury yields.

The expectations of the federal interest follow-up tool on Investing Saudi Arabia indicated that the odds of increasing interest rates by 25 basis points at the Federal Open Market Committee meeting in November will rise to 35.5% now, from 27.8% at the beginning of last week.

For an outlook on interest rates, comments from Federal Reserve Chairman Jerome Powell on Friday at a meeting of central bankers in Jackson Hole, Wyoming, will be closely watched.

The president is likely to highlight that the Fed has done a good job of lowering headline inflation towards its target range, Bennett said. This may be enough to relieve some of the interest rate pressures on the gold market.

Declining fears of a US slowdown and rising bond yields have eroded the appeal of traditional safe-haven exchange-traded funds (ETFs) this year. The SPDR Gold Trust, the world's largest gold-backed fund, resumed outflows on Monday.

other metals

Elsewhere, spot silver fell 0.3% to $23.29 an ounce and platinum rose 0.1% to $909.89. Palladium fell 0.1% to $1,243.69.