NEW YORK: Gold extended gains on Tuesday and crossed the key $2,000 level as the dollar and yields fell, while weaker US economic data emboldened bets for slower rate hikes despite mounting concerns over oil-led inflation.
Spot gold climbed 1.7% to $2,017.89 per ounce by 11:30 a.m. EDT (15:30 GMT) after reaching its highest since March 9, 2022 of $2,024.79 earlier. US gold futures gained 1.8% to $2,036.20.
Tracking gold’s gains, silver jumped 3.2% to $24.75 per ounce, platinum rose 2.7% to $1,011.95, while palladium was up 0.6% at $1,468.52.
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