Gold prices rose supported by a weaker dollar and the possibility of a US interest rate cut later this year, as investors await more details on US trade policy.

The spot price of gold increased by 0.4 percent to $3,327.42 per ounce.

Meanwhile, US gold futures rose 0.5 percent to $3,336.40 per ounce.

In the currency market, the US dollar index, which measures the value of the US dollar against a basket of currencies, fell by 0.2 percent, making gold cheaper for holders of other currencies.