· Gold prices recovered from a near seven-month low and platinum bounced from close to a 10-year low on Tuesday as the dollar eased.
· Spot gold gained 0.9 percent to $1,252.96 an ounce at 1:42 p.m. EDT (1742 GMT). Earlier, bullion prices dropped to $1,237.32, their lowest since Dec. 12, 2017.
· U.S. gold futures for August delivery settled up $11.80, or 1 percent, at $1,253.50 per ounce.
· "First the dollar flipped, and it looks like interest rates dropped for the 10-year (Treasuries)," said Bart Melek, head of commodity strategy at TD Securities. "The (yield) curve is flattening, suggesting that you might not get as much tightening as thought before."
· Investors awaited minutes, due on Thursday, of the June U.S. Federal Reserve meeting and U.S. non-farm payrolls data on Friday for clues on the direction of U.S. monetary policy decisions, which affect non-interest yielding gold.
· The dollar index declined against a basket of currencies, decreasing the cost of dollar-denominated bullion for investors using other currencies.
· The United States plans to place tariffs on $34 billion of Chinese goods as of July 6, but world stocks were supported by broad gains in Europe and rising oil prices.
· The U.S. Chamber of Commerce denounced U.S. President Donald Trump's handling of global trade disputes, issuing a report that argued those tariffs and retaliation by U.S. partners would boomerang badly on the economy.
· Analysts warned that gold's rise on Tuesday did not mark the end of its recent downward trend.
· "It appears quite clear that the trend is still bearish for gold and that a first positive impulse could only arrive if prices soar to $1,255," ActivTrades analyst Carlo Alberto De Casa said.
· Silver climbed 1.1 percent to $16.01 an ounce. Platinum gained 2.6 percent at $837.10 an ounce. Earlier, it fell to the lowest since December 2008 at$793. Palladium dropped 0.7 percent at $938.20 per ounce.
Reference: Reuters
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