Gold prices may rebounce back.
Gold prices moved higher during Asian hours on Tuesday as investors snapped up bars and coins in a wave of physical demand after the precious metal slipped to its lowest level in nearly six months in the previous session.
Spot gold was up by 0.4 percent at $ 1224.76 an ounce at 0256 GMT . The metals have slipped to its lowest since June 3 at $ 1,211.08 an ounce on Monday.
Markets are now anticipated that probably that a hike in US interest rates will be there in coming December. FED president Robert Kaplan on Monday suggested that Federal Reserve is on track to raise interest rates soon.
Gold is highly sensitive to raising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced.
Oil prices pinned near three month lows as gloom grows over OPEC.
Oil fell to its lowest level in three months, as the prospects of another year of oversupply and weak prices overshadowed chances that OPEC will reach a deal to cut output.
Donald Trump’s surprise victory in last week’s US presidential election has boosted stocks and dollar, but undermined much of the commodities like oil, which has sagged as expectation that the world’s largest exporters will agree to reduce output by this month.