Commodities
Gold Edges Up as US Dollar Weakens Ahead of Inflation Data
Gold prices edged up on Tuesday as the US dollar weakened in anticipation of upcoming inflation data that could influence the Federal Reserve's next policy move.
The spot gold price rose 0.6% to $4,429.89 per ounce, while US gold futures for December delivery were little changed at $4,475.10.
The decline in the dollar made greenback-priced metals more affordable for holders of other currencies.
However, the outlook for gold remains uncertain, with neither buyers nor sellers showing sufficient conviction to drive a sustained move, according to Chris Weston, head of research at Pepperstone Group.