Gold prices hover near all-time highs

Gold prices hovered near all-time highs on Tuesday ahead of the expected launch of a U.S. monetary easing cycle that the Federal Reserve could kick off with a major interest rate cut.

Spot gold was steady at $2,581.68 an ounce.

The precious metal hit a record high of $2,589.59 on Monday.

U.S. gold futures were also steady at $2,608.60.

Spot silver rose 0.1% to $30.79 an ounce, platinum gained 0.6% to $986.90 and palladium gained 1% to $1,087.09 after hitting its highest since April 11 earlier in the session.