Gold rebounded again during trading today, Tuesday, after witnessing a significant decline in the previous session, representing the largest decline in the yellow metal in 6 weeks.
The price of gold today was mainly driven by rising US bond yields, supported by bets that the US Federal Reserve will raise interest rates faster than expected.
Gold rose 0.2% in spot contracts to $1,804.46 an ounce, after rising on Monday to its highest level in more than a month at $1,831.62 before giving up gains and closing down 1.5%.
US gold futures increased 0.2% to $1,804.30.
On the other hand, silver fell in spot contracts by 0.4% to $22.77 per ounce, while platinum rose by 0.1% to $956, and palladium increased by about 1.2% to $1,847.69.
