09:27 AM EDT, 03/26/2024 (MT Newswires) -- Gold pushed back above the US$2,200 mark early on Tuesday as buying interest continues ahead of expected interest-rate cuts from central banks as inflation slows.

Gold for June delivery was last seen up US$13.30 to US$2,211.50 per ounce.

The rise comes as investors continue to move to the metal after the Federal Reserve last week said it could cut interest rates by 75 basis points by year end as inflation slows, joining other central banks also facing pressure to lower rates. Data coming later this week may influence the Fed forecast, as the US releases February PCE index data, the central bank's preferred inflation measure. The report is expected to show an annualized rise of 2.5%, according to Marketwatch, up from 2.4% in January.

The dollar edged lower early on Tuesday, with the ICE dollar index was last seen down 0.14 points to 104.09, while treasury yields rose, with the US two-year note last seen paying 4.622%, up 3.7 basis points, while the yield on the 10-year note was up 1.4 basis points to 4.26%.