Doha: Gold prices edged higher on Tuesday, supported by growing expectations of a US interest rate cut this month, while focus shifted to upcoming economic data for additional insights into the monetary policy of the world's largest economy. Spot gold was up 0.1% at $2,642.42 per ounce, after falling as much as 1% on Monday. US gold futures edged 0.3% higher to $2,665.30. According to Qatar News Agency, spot silver added 0.3% to $30.60 per ounce, platinum steadied at $946.60, and palladium rose 0.5% to $985.86. This upward trend in precious metals is being closely watched by investors, who are weighing potential shifts in the US Federal Reserve's policy, which could impact global economic conditions. The anticipation of a rate cut is fueling optimism in the market, as lower interest rates tend to decrease the opportunity cost of holding non-yielding bullion.