Major U.S. stock indexes closed higher on Tuesday, led by gains in technology shares, while gold prices fell back to $5,149 per ounce at the time of writing. The drop pulled gold away from a three-week high, as a stronger U.S. dollar and mixed Treasury yields reduced demand for the safe-haven metal.
The rebound came after a volatile start to the week, including a sharp decline on Monday. All three major indexes posted solid gains, with semiconductor stocks driving much of the rally. The S&P 500 rose 52.70 points, or 0.77%, to close at 6,890.45. The Nasdaq Composite gained 239.91 points, or 1.06%, to 22,867.18. The Dow Jones Industrial Average climbed 377.40 points, or 0.77%, finishing at 49,181.46.
In commodities trading, spot gold was at $5,149.20 per ounce late in the evening. Investors are now watching for comments from Federal Reserve officials for clues on interest rates. Meanwhile, U.S. gold futures for April delivery settled 0.9% lower at $5,176.30.
Other precious metals also saw mixed moves. Spot silver fell 1.2% to $87.21 per ounce after reaching a two-week high in the previous session. Spot platinum rose 1% to $2,175.95, while palladium gained 2.3% to $1,785.35.
