Gold prices Tuesday on Monday, to extend gains for the fourth straight day and hit a 4-month high, while the US dollar fell against a basket of its peers on expectations the US Federal Reserve will not tighten its monetary policy soon.

Gold prices rose 0.4% to the highest since January 29 at $1,873.73 an ounce, after opening at $1,866.33, and hit a low of $1,864.62.

Gold gained 1.4% yesterday, and posted its third straight daily gain, as the US dollar fell.

The dollar index fell 0.1% on Monday for the fourth straight session and hit a 3-month low at 89.84 points as the greenback weakens against major rivals.

Fed Dallas President Robert Kaplan said he doesn't expect a US rate hike next year, hurting the dollar further.

The Federal Reserve will release on Wednesday the minutes of April 27-28 meeting, at which policymakers voted to maintain current interest rates near zero and the bonds purchases program.

Gold stocks at the SPDR ETF rose by 7.57 metric tonnes yesterday, the largest daily increase since January 15, with the total at the highest level since March 29 at 1,035.93 metric tonnes.

The US dollar fell against its peers on fourth, deepening its losses for the fourth straight day, and hit a 3-month low, on expectations the US Federal Reserve will not tighten its monetary policy soon, and ahead of the Fed's meeting minutes.

The dollar index fell 0.5% to the lowest since February 25 at 89.75 points, after opening at 90.18, and hit its intraday high at 90.20 points.

The index lost 0.1% yesterday, its third straight daily loss, due to disappointing US data.

Fed Dallas President Robert Kaplan said he doesn't expect a US rate hike next year, hurting the dollar further.

The Federal Reserve will release on Wednesday the minutes of April 27-28 meeting, at which policymakers voted to maintain current interest rates near zero and the bonds purchases program.

Silver prices rose nearly 2% on Tuesday, to extend gains for the fourth straight day and hit a 3-month high, while the US dollar fell against a basket of its peers.

Silver prices rose 2% to the highest since February 2 at $28.73 an ounce, after opening at $28.18, and hit a low of $28.12.

Silver gained 2.7% yesterday, and posted its third straight daily gain, as the US dollar fell.

The dollar index fell 0.1% on Monday for the fourth straight session and hit a 3-month low at 89.84 points as the greenback weakens against major rivals.

Fed Dallas President Robert Kaplan said he doesn't expect a US rate hike next year, hurting the dollar further.

Euro rallied in European trade to three-month high against dollar on track for the fourth profit in a row on expectations US interest rates will remain low until 2023 at least, and ahead of European data later today. 

EUR/USD rose 0.35% to 1.2190, the highest since February 25 after closing up 0.1% yesterday, the third profit in a row following new remarks by Fed officials.  

The dollar index fell 0.3% on Tuesday for the fourth straight session, marking three-month lows at 89.92. 

Fed Dallas President Robert Kaplan said he doesn't expect a US rate hike next year, hurting the dollar further. 

Investors are waiting for more evidence tomorrow when the Fed releases its last meeting minutes on monetary policy and interest rates. 

As of 09:00 GMT, GDP in Europe is expected down 0.6% in the first quarter of the year, same as the rate of the fourth quarter of 2020.