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Commodities

Gold Prices Rise as Dollar Slips Ahead of Inflation Data

Guavy AI Editorial Team
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Gold
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The price of gold rose by 0.6% on Tuesday to $4,429.89 per ounce as the US dollar slipped, with investors awaiting upcoming inflation data that could influence the Federal Reserve's next policy move.

The US producer price index data is due on Thursday and consumer price index data on Friday, both of which may affect expectations for a potential interest rate hike by the Fed.

Gold prices fell in the previous two sessions after strong job growth was reported in August, but Chris Weston from Pepperstone Group notes that gold remains locked in a 'battle between buyers and sellers' with neither side gaining momentum.

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