CHICAGO, Feb. 6 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Tuesday as the U.S. dollar weakened.

The most active gold contract for April delivery rose 8.50 U.S. dollars, or 0.42 percent, to close at 2,051.40 dollars per ounce.

Falling U.S. Treasury yields also supported gold.

Speaking at the Ohio Bankers League in Columbus, Ohio, on Tuesday, Cleveland Fed President Loretta Mester said the Federal Reserve could lower interest rates "later this year," and warned it would be a "mistake" to cut rates too soon.

"It would be a mistake to move rates down too soon or too quickly without sufficient evidence that inflation was on a sustainable and timely path back to 2 percent," Mester said.

Several other Fed officials will also speak this week.

Market analysts hold that U.S. consumer price index (CPI) data release may potentially be a catalyst for the price move of gold in near term.

Silver for March delivery rose 5.60 cents, or 0.25 percent, to close at 22.478 dollars per ounce. Platinum for April delivery rose 7.50 dollars, or 0.83 percent, to close at 911.00 dollars per ounce.