Gold rose on Tuesday after hitting a six-week low in the previous session as bargain hunting set in and the dollar slid sharply after the US Senate postponed a planned healthcare vote. US Federal Reserve Chair Janet Yellen said she was sticking to the plan to raise interest rates gradually and that inflation has continued to run below the Fed's objectives.
The US dollar index fell 1 percent and Wall Street dropped further, after a vote on healthcare legislation was delayed in the US Senate, according to a Senate aide. Spot gold rose 0.5 percent to $1,249.51 per ounce by 3:28 pm EDT (1928 GMT). It slumped to a six-week low of $1,236.46 on Monday. US gold futures for August settled up 0.04 percent at $1,246.90.
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