FX.co ★ Gold Prices Rebound Amidst A Weak Dollar

Prices of the yellow metal rose on Tuesday, reversing two days of losses triggered by hawkish comments from Fed officials.

Gold, which had dropped to a low of $1,995 on Friday and a low of $1983.20 on Monday traded firmly above the $2k level on Tuesday.

The weakness in the Dollar supported the rebound in the prices of the yellow metal.

The Dollar Index (DXY), a measure of the Dollar's relative strength against a basket of six currencies has dropped 0.41 percent overnight to 101.68. The day's range was between a low of 101.64 and a high of 102.14.

Gold Futures for June Settlement gained 0.43 percent to trade at $2,015.55. The day's trading range has been between $2,005.65 and $2018.05.

Spot Gold has gained 0.39 percent to trade at $2,003.06 per troy ounce. The day's trading range has been between $1,993.38 and $2,005.81.