Gold hits one-week high amid rate-cut expectations

Gold prices rose on Tuesday to their highest level in a week, following remarks by officials at the US Federal Reserve that strengthened expectations of an interest rate cut.

Spot gold climbed 0.4 percent to $4,465.32 per ounce, after jumping nearly 3 percent in the previous session.

US gold futures for February delivery rose 0.3 percent to $4,465.70 per ounce.

Among other precious metals, spot silver advanced 2.9 percent to $78.72 per ounce, after reaching a record high of $83.62 on 29th December.

Spot platinum gained 2.5 percent to $2,327.17 per ounce, after climbing to an all-time high of $2,478.50 last Monday.

Palladium prices increased 0.8 percent to $1,721.74 per ounce.