Bengaluru: Gold prices fell on Tuesday amid a rise in the dollar as investors awaited more clues on the timing of any US interest rate hikes in a series of speeches by Federal Reserve officials this week. Spot gold fell 0.5% to $1,232.31 per ounce by 9.08am, while US gold futures also fell 0.4% to $1,233.60 an ounce. “US economic data is currently the driving force behind gold,” Heraeus Metal Management said in a note. “Fed chief Janet Yellen recently signalled that the US economy was prepared for an early increase in key interest rates. Meanwhile, spot silver fell 0.5%, to $17.92 per ounce, while platinum prices was down by 0.6%, to $995 per ounce.

Source: Mint February 21, 2017 04:30 UTC