Gold prices rebound from five week low as oil eases
Spot gold rose 0.8 percent to 4,557.75 dollars an ounce as oil prices softened. Gains were limited by persistent Middle East tensions and inflation fears.
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Gold rose 0.8% to $4,557.75 per ounce on Tuesday midday as energy prices retreated. The recovery follows a drop to a five-week low on Monday midday. Investors are balancing safe-haven demand against high energy costs that threaten to keep interest rates elevated.
Spot prices climbed after touching their lowest level since March 31 during the previous session. U.S. gold futures for June delivery also gained 0.8% to reach $4,568.50.
