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Gold prices jumped again on Tuesday helped by the dollar’s slight retreat from a two-decade high. Moreover, bargain hunters took benefit of recent losses.
Spot gold increased 0.9 percent to $1,716.59 per ounce by 2:02 p.m.
U.S. gold futures stood at 0.9 percent higher at $1,727.80.
“Gold recently has acted as a risk asset than a safe-haven. The question is when will we see gold take on more of a safe-haven role as we begin to see economies slow due to these rising rate hike policies.” director of metals trading at High Ridge Futures David Meger said.
Gold prices declined over $300 since rising above $2,000 per ounce in March.
