Gold Up, Near Two Week High as Dollar Stabilizes By Investing.com

Investing.com – Gold was up on Tuesday morning in Asia. The was up, that helped boost the yellow metal to its highest point in two weeks.

edged up 0.17% to $1,850.94 by 11:10 PM ET (3:10 AM GMT), after hitting its highest level since May 9 at $1,865.29 on Monday.

The dollar, which normally moves inversely to gold, was up on Tuesday after falling to a one-month low in the previous session. Benchmark also eased.

The U.S. Federal Reserve could hike its target interest rate to about 2% by August 2022, with further action dependent on how both supply and demand are affecting inflation, Kansas City Fed President Esther George said on Monday.