* Renewed growth in gold ETFs have supported
recovery-analyst
    * Dollar hits fresh one-month low

 
    By Seher Dareen
    May 24 (Reuters) - Gold prices rose to their highest level
in two weeks on Tuesday, as the safe-haven metal's appeal was
lifted by a weaker U.S. dollar and lower Treasury yields amid
subdued risk appetite in financial markets. 
    Spot gold        rose 0.6% to $1,865.07 per ounce by 2:19
p.m. ET (1819 GMT), after hitting its highest since May 9 at
$1,868.69 earlier in the session. U.S. gold futures       
settled up nearly 1% at $1,865.4.
    Weakness in the dollar index along with a fall in U.S.
Treasury yields from their recent highs has provided a
supportive environment for gold, said David Meger, director of
metals trading at High Ridge Futures.     
    The greenback hit a one-month low, while U.S. 10-year
Treasury yields edged lower as weakness in equities revived
safe-haven demand for the debt.                         
    "Gold traders are increasingly questioning the Fed's
willingness to hike into a recession, as growing economic
concern is breathing life into the gold market. Upside flow from
CTAs along with renewed growth in ETFs have supported the
recovery," analysts at TD Securities wrote in a note.          
    The yellow metal is seen as a safe store of value during
times of economic crisis and a hedge against inflation, but
rising interest rates tend to weigh on non-yielding bullion.
    With the Federal Reserve amping up its fight against 40-year
high inflation, Atlanta Fed President Raphael Bostic said in an
essay on the bank's website that he urged caution so as to avoid
triggering "significant economic dislocation" with interest-rate
hikes that were too sharp.             
    "Now that we know what we're getting out of the Fed, you
could argue that gold once again has a fairly clear path moving
forward," Meger added, highlighting the market still questions
whether the rate hikes would be enough to stave off inflationary
pressures in the short term.              
    Spot silver        rose 1.3% to $22.05 per ounce, platinum
       fell 0.6% to $952.80 and palladium        rose 0.5% to
$2,002.19. 
    


 (Reporting by Seher Dareen in Bengaluru; Editing by Krishna
Chandra Eluri, Shailesh Kuber and Amy Caren Daniel)