Gold futures rise, recouping some ground after a 3.7% drop on Monday. Futures are up 0.4% at $2,629.70 a troy ounce.
The precious metal remains under pressure on renewed risk appetite in financial markets, says ActivTrades' Ricardo Evangelista. Trump's nomination of Scott Bessent, viewed as a balanced choice for U.S. Treasury Secretary, has eased fears that a second Trump administration's tariff-heavy policies could reignite inflation and stifle economic growth, Evangelista says in a note.
Reports of a potential ceasefire agreement between Israel and Hezbollah have also reduced safe-haven demand for gold. The release of Federal Reserve meeting minutes later Tuesday could provide additional direction for gold prices. Dovish signals from the Fed could support gold, while indications of a potential pause in interest-rate cuts would create additional headwinds, he adds.
Source : Dow Jones Newswires
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