Gold prices increased on Tuesday, with spot gold rising by 0.2% to $2001.09 per ounce. U.S. gold futures also rose by 0.2% to $2011.10. The dollar index fell by 0.1%, making gold priced in U.S. dollars cheaper for overseas buyers.
Gold prices had dropped to a two-week low on Monday after data showed an increase in manufacturing activity in New York for the first time in five months. This data bolstered expectations that the Federal Reserve would raise interest rates in its meeting in May.
For other precious metals, spot silver decreased by 0.4% to $25.02 per ounce, platinum fell by 0.1% to $1046.55, and palladium dropped by 0.2% to $1562.26.
