Gold prices rose for a second day mid-afternoon on Tuesday as treasury yields ease and international tensions run high after the Biden Administration permitted Ukraine to attack targets within Russia with U.S.-supplied missiles.
Gold for December delivery was last seen up US$16.30 to US$2,360.90 per ounce.
Following months of pressure, the Biden Administration over the weekend said Ukraine can make limited missile attacks on targets within Russia, which Moscow said will mean it is now at war with NATO.
Gold's gain "were supported by a softer dollar and worsening US-Russia relations after the US approved Ukraine's use of long-range missiles against Russia", Saxo Bank noted.
The dollar at last look was little changed with the ICE dollar index up 0.05 points to 106.33.
Treasury yields fell, with the U.S. two-year note last seen down 1.5 basis points to 4.274%, while the 10-year note is down 4.3 points at 4.378%.
Source : MT Newswires
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