The price of gold rose on Tuesday as the weakness of the dollar strengthened the attractiveness of the bullion for foreign buyers, although the risks associated with an impending rise Massive interest rates by the US Federal Reserve have limited continued gains.

Spot gold rose 0.2% to $1,653.31 per ounce at 0709 GMT. American gold futures were down 0.3% to $1,658.50.

Gold has fallen by nearly 10% since the start of the year, as the sharp rise in US rates has increased the opportunity cost of owning the Unproductive asset and boosted the dollar and bond yields.

Cash rose 0.4% to $18.75 per ounce, platinum rose 0.4% to $919.49, and palladium gained 1% to $2,020.40.