One kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023.
Gold prices edged higher on Tuesday, steered by bets that the U.S. Federal Reserve would cut interest rates later this year and safe-haven demand for bullion as Gaza ceasefire remains uncertain.
Spot gold was up 0.1% at $2,324.75 per ounce, as of 0148 GMT after rising more than 1% in the previous session.
Fed Bank of New York President John Williams said on Monday that at some undefined point the U.S. central bank will lower its interest rate target.
Lower rates increase the appeal of holding non-interest bearing gold.
Persons:
that's, Matt Simpson, John Williams, Simpson, Israel, Heraeus
Organizations:
Co, U.S . Federal, Index, Fed Bank of New York, Investors, Hamas
Locations:
Bangkok, Thailand, Gaza, U.S, Palestinian, Rafah