Gold Price Hits $1,210.88 on Weak Economic Data

The spot gold price climbed 0.8 percent on Tuesday as the dollar dipped relative to world currencies, according to Reuters. The metal reached $1,210.88 per ounce during trading, and the uptick followed a day of strong trading on Monday.

Meanwhile, US gold futures for June delivery rose by $7.30 to hit $1,210.50.

Investors will be closely watching​ the Federal Reserve meeting that begins Tuesday for any sign of an imminent interest rate hike. Given the economy’s recent lackluster performance, a rate increase is unlikely until later in the year.