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Platinum rises as much as 3.5% SPDR Gold holdings hit lowest since April 2020 (Adds comments, updates prices) March 9 (Reuters) - Gold rose nearly 2% on Tuesday, as it gained respite from a retreat in U.S. Treasury yields and the dollar following a slide to a nine-month low in the last session. Spot gold rose 1.5% to $1,706.01 per ounce by 1308 GMT, having earlier risen as much as 1.8% to $1,711.16. U.S. gold futures climbed 1.4% to $1,701.80. “Given the metal’s zero-yielding nature, falling yields may provide a tailwind for bulls to elevate prices higher,” said Lukman Otunuga, senior research analyst at FXTM. But while gold may extend gains near term, “fundamentally, the pendulum swings in favour of bears especially when factoring in how global sentiment is improving on vaccine rollouts and COVID-19 cases are falling globally.”

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