Gold prices edge up ----

Gold prices rose on Tuesday after touching a three-week low in the previous session as traders reassessed interest rate cut expectations from the Federal Reserve after a report showed consumers expect lower inflation this year, reports Reuters.

Spot gold was up 0.5 per cent at $2,037.50 per ounce, as of 1032 GMT, after hitting its lowest level since Dec. 18 on Monday. US gold futures GCcv1 rose 0.5 per cent to $2,043.90 per ounce.

"Everybody was very optimistic that there would be a first Fed rate cut in March... but at the end of December, this somehow shifted and the economy in the US continued to show signs of strength of resilience," said Ricardo Evangelista, senior analyst at ActivTrades.

Among other precious metals, spot silver rose 0.5 per cent to $23.20 per ounce, while platinum was steady at $946.21, and palladium 0.9 per cent to $988.17.