The dollar fell to an over one-week low in the previous session. A weaker dollar makes commodities priced in the greenback more affordable for holders of other currencies.
US President Joe Biden said on Tuesday he agreed with a proposal by Democratic lawmakers that would limit or phase out stimulus payments to higher-income individuals as part of his $1.9 trillion coronavirus relief bill.
US layoffs eased in December and job openings increased modestly, suggesting the decline in employment was largely due to companies cutting back on hiring amid uncertainty caused by a raging Covid-19 pandemic.
Investors now await Federal Reserve Chairman Jerome Powell’s speech before a virtual Economic Club of New York event at 1900 GMT on Wednesday.
SPDR GoldSpot silver gained 0.6 per cent to $27.36 an ounce, palladium was down 0.3 per cent to $2,312.58. * Platinum rose 2.1 per cent to $1,200.03, after hitting $1,202.29 earlier in the session, its highest since February 2015, on supply deficit concerns.