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Commodities

Gold Prices Rise Amid Sliding Dollar Ahead of Inflation Data

Guavy AI Editorial Team
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Gold
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Gold prices rose on Tuesday as the US dollar slipped ahead of key inflation data releases. Spot gold was up 0.6% at $4,429.89 per ounce, while US gold futures for December delivery were little changed at $4,475.10.

The decline in the greenback made metals more affordable for holders of other currencies.

Chris Weston, head of research at Pepperstone Group, said 'Gold remains locked in a battle between buyers and sellers, with neither party showing enough conviction to drive a sustained and persistent directional move.'

The upcoming inflation data is due on Thursday and Friday, which could influence the Federal Reserve's next policy move.

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