Gold prices rose on Tuesday even as the dollar muscled up against major rivals, but the precious metal was still boosted by changing yields on US treasury yields. 

US two-year treasury yields rose by 7.5 points to 4.533%, while 10-year treasury yields rose 2.6 basis points to 3.714%, as 30-year treasury yields stabilized at 3.895%. 

There's no impactful US data released today, while Fed officials embark on their silent period ahead of the policy meeting. 

However markets are putting a 75.9% chance of no change in US monetary policies at the Fed's June meeting. 

‏However investors are looking forward for official clues on the path ahead for policies and interest rate moves in July.

Allianz chieft economist Muhammad Al-Aryan said that while concerns about a US debt default have subsided, markets now are looking forward to the Fed's efforts to contain inflation.

Despite risks surrounding high interest rates in the last 15 months, the tech sector was particularly brilliant amid the AI industry boom.

Otherwise, the dollar index rose 0.2% as of 19:03 GMT to 104.2, with a session-high at 104.3, and a low at 103.8.

On trading, gold spot prices rose 0.3%, or $6.30 as of 19:04 GMT to $1,980.5 an ounce. 

US stock indices rose mildly on Tuesday amid pressures on the US banking sector while investors following the yields on US treasury bonds.

Several banks registered losses after reports that regulators are considering a tightening of capital requirements in major banks. 

Allianz chieft economist Muhammad Al-Aryan said that while concerns about a US debt default have subsided, markets now are looking forward to the Fed's efforts to contain inflation.

Despite risks surrounding high interest rates in the last 15 months, the tech sector was particularly brilliant amid the AI industry boom.

On trading, Dow Jones rose 0.1%, or 18 points as of 16:12 GMT to 33,585, as S&P 500 rose 0.2%, or 9 points to 4,283, as NASDAQ climbed 0.3%, or 41 points to 13,270. 

Copper prices stalled on Tuesday on continuous concerns about economic growth following weak US and European data. 

Copper three-month futures at the London Metals Exchange fell 0.7% to $8281 a tone after a 1.2% surge on Monday.

SaxoBank's analysts in Copenhagen said that recent weak US data indicates the US economy is finally showing signs of weakness, in turn impacting demand on industrial metals.

Recent US services data showed a very timid growth in May as new orders slowed down sharply.

Short sellers benefited highly from the weaker copper prices at the London Exchange, with prices failing to pierce the 200-day SMA technical resistance. 

In Shanghai, copper prices hit four-week highs amid some hopes for China to launch fresh stimulus measures. 

Copper July futures at the Shanghai Futures closed 0.7% higher at 66,450 yuan a tone. 

As for other metals aluminium prices fell 1% at the London Exchange to $2221 a tone, while nickel rose 1.4% to $21,195, as Zinc rose 0.3% to $2295, while lead rose 0.3% to $2,033, as tin rose 0.9% to $25,795. 

Otherwise, the dollar index rose 0.2% as of 15:54 GMT to 104.2, with a session-high at 104.3, and a low at 103.8.

Copper July futures in American trade fell 0.6% to $3.74 a pound as of 15:47 GMT.

Oil prices fell in European trade for the first session in four off five-week high on profit-taking, and amid renewed concerns about the global economy's weakness and its impact on fuel demand.

Such decline comes ahead of initial US inventory data later today from the American Petroleum Institute. 

Global Oil Prices

US crude fell 2.5% to $70.17 a barrel, with a session-high at $71.99, while Brent tumbled 2.2% to $74.76 a barrel, with a session-high at $76.58. 

US crude rose 0.2% on Monday, the third profit in a row, marking a five-week high at $74.92, while Brent added 0.5% to $78.68 a barrel, the highest since May 2. 

Global oil prices surged after Saudi Arabia announced a voluntary production cut by a million bpd for a month in July. 

Economic Cocnerns

Latest US data showed a steep decline in US services PMI during May.

European data also showed an unexpected tumble in German factory orders in April, renewing concerns about the health of the euro zone's largest economy. 

It'll depend on upcoming inflation data now which will decide the path forward for monetary policies in both the US and Europe and will determine the likely path ahead for growth in both regions.

API

The American Petroleum Institute will release initial data on US crude stocks today, with analysts expecting the second weekly buildup in a row.