Gold Price Edges Up to $1,192.14 per Ounce

Gold’s recovery continued on Tuesday as the metal rose 0.3 percent to trade at $1,192.14 per ounce, according to Reuters. Meanwhile, MarketWatch notes that gold for April delivery increased 0.2 percent to hit $1,190.10.

The metal’s recent gains reflect the US Federal Reserve’s reluctance to increase interest rates just yet. Earlier in the year, the dollar’s impressive strength and several months of US employment gains prompted many investors to shift away from safe-haven commodities in anticipation of an increase in the key funds rate.

After last week’s Fed meeting, however, official statements appeared doveish, and have fueled speculation that a rate increase would not occur in the near future.