Gold futures rallied in the electronic trading on Tuesday because of the weakened US dollar and boosted buying in the metal. The greenback decline in the Asian trading hours supported the metal surging prices, as Federal Reserve official, James Bullard, stated that the central bank would probably keep policy rates on hold following the second session of quantitative easing. At the New York Mercantile Exchange, gold contract for June delivery soared 0.20% or $2.50 to settle $1,517.90 per ounce on the Comex division during the Asian trading hours. Similarly, July Silver added $0.36 or 1.00% to $35.27 per ounce. The broader metals moved higher in Asian trading hours on Tuesday. The growth followed yellow metal settling at its peak level since May 10 in the North American trading, as euro zone debt and slow global economic expansion concerns well assisted the prices, as the precious metals were considered as safe heaven. The dollar index, which gauges the US Dollar unit versus a basket of six counterpart economies, traded down at 76.038, from 76.125 in late North American trading on Monday. Considering other metals, copper contract for July went up 0.6% or $0.02 to reach $4.02 per pound. The sister metals platinum and palladium posted gains during the trading as July platinum advanced 0.20% or $4.10 to remain $1,760.00 per ounce, similarly June palladium jumped $1.20 or 0.20% to $733.00 per ounce.

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