* Gold to trade above $2,000 in 2024 - analyst
* Traders see 89% chance of Fed rate cut by March 2024
* Some markets are closed for public holidays
Dec 26 (Reuters) - Gold prices rose on Tuesday, helped by a weaker U.S. dollar and lower Treasury yields on expectations that the Federal Reserve will lower interest rates next year.
Spot gold was up 0.4% at $2,062.09 an ounce by 1041 GMT after hitting a more than two-week high of $2,070.39 in the previous session. U.S. gold futures rose 0.2% to $2,073.20.
Trading was thin on the day after Christmas with several markets closed for public holidays and trading expected to remain muted across the shortened week.
"The main factor supporting gold is still the expectation of dovish central banks and falling rates in the next few years," said Kinesis Money analyst Carlo Alberto De Casa.
There is a good chance gold could stay above $2,000 in 2024, De Casa added, pointing to continuing geopolitical tensions.
Lower U.S. interest rates increase the appeal of non-yielding bullion, which is also widely considered a safe-haven investment in times of economic and geopolitical turmoil.
Data released on Friday showed U.S. prices fell in November for the first in more than three and a half years, further slowing inflation and boosting expectations of a Fed interest rate cut next March.
Traders are now pricing in an 89% chance of a rate cut by the U.S. central bank in March, according to the CME FedWatch tool.
The dollar index hovered near a five-month low while the benchmark U.S. 10-year bond yield edged lower.
A weaker U.S. currency makes dollar-priced gold more attractive for those holding other currencies.
In other precious metals, spot silver rose 0.4% to $24.2664 an ounce while platinum lost 0.2% to $969.17 and palladium fell 0.7% to $1,194.38.
(Reporting by Hissay Ongmu Bhutia in Bengaluru Editing by David Goodman)
