On Tuesday, July 31, gold futures edged higher on hopes for policy decisions in the U.S. and Europe. Gold futures for August settlement jumped 0.1%, to $1,625.60 per ounce during today's New York trading session. At the same time, other precious metals also advanced. September silver rose 0.3 per cent, to $28.13 per ounce, copper with the September contract added 0.4%, to $3.43 per pound, and September palladium increased by 0.5 per cent, to $591 per ounce. Meanwhile, October platinum rocketed 1.08 per cent to 1,427.00 per ounce.