Gold prices are jumping to their highest level in more than a week
Gold prices jumped about 1 percent to their highest level in more than a week on Tuesday, supported by the decline in the dollar and US Treasury yields.
And gold recorded in spot transactions at $ 1743.20 an ounce at the end of the trading session, up 0.86 percent, after earlier jumping to the highest level since March 25 at $ 1745.15.
US gold futures rose 0.8 percent to settle at $ 1743 an ounce.
"The falling dollar is the main reason for buying gold ... and also the proceeds, which did not fare well in the past week," said Ole Hansen of Saxo Bank.
The dollar fell to its lowest level in about two weeks against a basket of competing currencies, which makes gold cheaper for holders of other currencies.
Record US Treasury yields also declined.
As for other precious metals, silver rose 0.96 percent to $ 25.13 an ounce, while palladium rose 0.4 percent to $ 2675.20 an ounce.
Platinum jumped 2.3 percent to $ 1236.90 an ounce.
Follow our latest local and sports news, and the latest political and economic developments via Google news