Gold prices rose for a second day on Tuesday supported by an easing U.S. dollar and physical buying in Asia. Spot gold was up 0.2 percent at $1,216.51 an ounce by 7:28 a.m. EDT. In the previous session, the metal rose 0.4 percent, reversing three sessions of losses. "Gold kept its head above water, with technical-based buying supporting the market. However, with the market increasing bets on a December rate hike in the U.S., this buying is unlikely to persist in the short term," ANZ analysts said in a note."
Spot gold may test a resistance at $1,222 per ounce, a break above which could lead to a gain to $1,235, according to Reuters technicals analyst Wang Tao. Among other precious metals, silver was rose 1.1 percent at $16.77 an ounce. Platinum was 1.2 percent higher at $945.35 and palladium was up 0.3 percent at $730.40.
Aussie is currently being traded around 0.7380 level. Pair is likely to find support around 0.7330 area and resistance above 0.74 handle.
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