Gold futures for December delivery closed up $2.80, or 0.2%, at $1,636.20 an ounce on Tuesday.

(Reuters file photo)

[Financial Channel/Comprehensive Report] As the dollar's rally paused, gold rebounded from a trough of nearly two and a half years. Gold futures for December delivery closed slightly up $2.80, or 0.2%, at $1,636.20 an ounce on Tuesday (27th). .

Gold is still at the mercy of a generally stronger dollar and rising U.S. bond yields during interest rate hikes, and could be highly volatile as the market digests the Fed officials' comments, said Lukman Otunuga, senior research analyst at FXTM.

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In other precious metals, silver futures for December delivery fell 14 cents, or 0.8%, to $18.337 an ounce; platinum for October delivery fell $3.20, or 0.4%, to settle at $8,846.90 an ounce; palladium for December delivery rose 41.4 Dollars, or 2 percent, settled at $2,090.40 an ounce.

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