Gold rallied to the highest level in nearly three weeks on Tuesday after a strong debate performance from French centrist presidential candidate Emmanuel Macron and as fading expectations for near-term U.S. interest rate hikes pushed the dollar lower. The U.S. dollar index fell to a six-week low while 10-year Treasury yields and U.S. and European shares also dropped, helping to bolster gold.
Spot gold was up 0.9 percent at $1,244.48 an ounce by 2:50 p.m. EDT (1850 GMT), just off the session high of $1,247.60, its highest level since March 2. U.S. gold futures for April delivery settled up 1 percent at $1,246.50.
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Gold rallied to the highest level in nearly three weeks on Tuesday after a strong debate performance from French centrist presidential candidate Emmanuel Macron and as fading expectations for near-term U.S. interest rate hikes pushed the dollar lower. The U.S. dollar index fell to a six-week low while 10-year Treasury yields and U.S. and European shares also dropped, helping to bolster gold.
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