Gold Prices Edged Higher as Weakened Dollar Boosts Demand

Singapore's gold market saw spot prices rise by 0.3% on Tuesday as the US dollar weakened.

The decline in the dollar index made dollar-denominated metals less expensive for buyers holding other currencies, contributing to the increase in gold prices.

Spot gold reached $4,418.79 per ounce, while US gold futures for December delivery fell slightly to $4,464.80.

The precious metal's price movement was accompanied by increases in other metals, with spot silver rising 0.3% to $66.34 per ounce and platinum gaining 0.6% to $1,836.97.