Gold rose on Tuesday as the dollar turned lower and global shares fell ahead of US non-farm payroll data later in the week that could give clues as to when the Federal Reserve will raise interest rates. Spot gold fell initially then firmed, and was up 0.4 percent at $1,192.80 an ounce by 2:20 pm EDT (1820 GMT). US gold futures for June delivery settled up $6.40 an ounce at $1,193.20. "Gold was firm yesterday and is continuing the trend today, with dollar weakness helping," Deutsche Borse's MNI senior analyst Tony Walters said.
Gold pared gains as the US treasuries saw a wave of selling, traders said. The dollar turned lower against a basket of major currencies while the euro steadied against the dollar after falling 0.7 percent. "It bumped into $1,200 and then when the dollar began to turn around a little bit, it kind of undermined gold," said Jim Steel, chief metals analyst for HSBC Securities in New York. Silver rose 0.8 percent to $16.52 an ounce after climbing to a four-week high on Monday. Platinum rose 0.2 percent to $1,142.49 an ounce, while palladium gained 1.5 percent to $792.05 an ounce, the highest level since March.
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