Gold prices rose on Tuesday, but hovered below recent record peaks after the US Federal Reserve chair tempered expectations for more substantial interest rate cuts this year.Spot gold was 0.3% higher at $2,641.33 per ounce, off a record high of $2,685.42 hit on Thursday.US gold futures rose 0.2% to $2,663.10.Fed Chair Jerome Powell on Monday suggested the central bank will likely pursue quarter-percentage-point interest rate cuts moving forward and was not "in a hurry" after new data boosted confidence in ongoing economic growth and consumer spending.Meanwhile, spot silver was up 0.7% to $31.36 per ounce, and platinum gained 0.9% to $984.95, while palladium settled at 1000$.Source: Qatar News Agency