Gold rises with increased demand

Gold prices strengthened on Tuesday, with the US dollar falling to its lowest level in a month for the second session in a row, making the yellow metal priced in dollars less expensive for buyers abroad.

Spot gold rose 0.3% to $1,858.19 an ounce by 07:57 GMT, after rising to its highest level since May 9 at $1,865.29 on Monday.

US gold futures rose 0.4% to $1,854.40.

The dollar, which is one of the safe havens competing for gold, is retreating broadly along with the decline in US Treasury yields from their highest levels in years with the strong easing from the Federal Reserve.

As for other precious metals, silver rose in spot transactions 0.4% to $21.86 an ounce, while platinum fell 0.2% to $956.93 and palladium increased 1.4 percent to $2021.28.