Gold prices rose on Tuesday after a sharp decline in the previous session as investors awaited the testimony of Federal Reserve Chairman Jerome Powell before Congress and inflation data for June / June to assess the next move by the US central bank.
Spot gold rose 0.1 percent to $2,361.77 an ounce after falling more than 1 percent on Monday. U.S. gold futures rose 0.3 percent to $2,369.70.
Markets expect a 77 percent chance of a rate cut in September and another cut by December, according to CME Group's Feed watch service.
Source (Al-Arabiya.net Website, Edited)
