RIYADH: Gold prices edged higher on Tuesday as the dollar pulled back slightly, but mounting worries over aggressive US rate hikes to control soaring inflation kept bullion near a one-month low.
Spot gold was up 0.2 percent at $1,738.79 per ounce, as of 0325 GMT, after hitting its lowest since July 27 at $1,727.01 on Monday.Â
US gold futures gained 0.1 percent to $1,750.50.
Silver falls
Spot silver fell 0.2 percent to $18.97 per ounce, while platinum was steady at $875.81.Â
Palladium climbed 1.4 percent to $2,023.20.
Corn at six-week high as heat curbs US yields
Chicago corn jumped to its highest level in more than one month on Tuesday, gaining 2.4 percent after a US government report showed the crop condition worsened amid hot and dry weather in key regions across the Midwest.
Wheat and soybeans rose more than 1 percent each.
The Chicago Board of Trade's most-active corn contract was up 2.4 percent at $6.44-1/4 a bushel, as of 0315 GMT.Â
Wheat rose 1.3 percent to $7.98-1/4 a bushel and soybeans added 1.2 percent to $14.53 a bushel.
Metals up
Most base metals rose on Tuesday, as an energy crisis in Europe and China stoked supply worries, but gains were capped by concerns over global economic weakness and interest rate hikes.
The most-traded September zinc contract on the Shanghai Futures Exchange rose 2.3 percent at $3,720.82 a ton, as of 0409 GMT.
London Metal Exchange copper advanced 0.5 percent at $8,067 a ton, aluminum gained 0.4 percent to $2,399 a ton, zinc climbed 0.7 percent to $3,520.50, lead was up 0.7 percent to $2,028.
(With input from Reuters)
