Gold prices rise, near $1,800

Gold prices rose on Tuesday to its highest level in a week, after investors' concern about the COVID-19 situation outweighed the pressure caused by the US dollar rise.

Gold futures contracts for December delivery rose 0.3%, or $6, to reach 1,795.8 per ounce, at 10:38am Makkah time, while the spot price for delivery increased 0.3% to $1,793.52 per ounce.

Elsewhere, silver futures for September delivery rose 0.4% to reach $23.89 an ounce, while spot price for platinum fell 0.4% to reach $1,022.36, while palladium declined marginally by 0.1% to reach $2,604.77 per ounce.

The dollar index - which measures the currency's performance against a basket of six major currencies - rose marginally by 0.1% to record 92.74 points.

Boston Federal Reserve board member, Eric Rosengren, said that another month of high employment data would meet the Fed's requirements to start reducing its monthly asset purchases.