Gold surpassed the threshold of 2,000 USD/oz in Tuesday's trading session thanks to expectations that interest rates of the US Federal Reserve (Fed) have peaked. The latest meeting minutes show that the central bank is quite cautious about raising interest rates further.
Spot gold contracts increased 1.07% to 1,998,356 USD/oz after at one point during the session hitting a 3-week high of 2,007.29 USD/oz. Gold futures contracts in the US also increased 1.1% to 2,001.60 USD/oz.