Gold Prices Climb as U.S. Rate Cut Speculations Rise

Gold prices continued to rise for the fourth consecutive session on Tuesday. This increase was supported by a weakening dollar and declining U.S. Treasury yields. The U.S. jobs data, which came in weaker than expected, has fueled expectations for a rate cut in September.

Gold in spot transactions was up by 0.1 percent, reaching $3375.89 per ounce by 0239 GMT. Similarly, U.S. gold futures rose 0.1 percent to $3430.40. The dollar index remained near its lowest point in a week, making gold more appealing to holders of other currencies.

The yield on 10-year Treasury bonds fell to its lowest level in a month. This drop in yields further contributed to gold's allure as an investment option.

In the precious metals market, silver also experienced a slight increase. It rose by 0.1 percent to $37.44 per ounce. Platinum increased by 0.1 percent, reaching $1330.31. Meanwhile, palladium saw a 0.2 percent rise, hitting $1204.25.

These movements in precious metal prices suggest an ongoing interest in safe-haven assets as investors speculate on potential market shifts prompted by economic indicators and central bank policies.