Gold Rises as Dollar Weighs Interest-Rate Outlook

The price of gold firmed on Wednesday as the US dollar remained subdued. This made dollar-priced metals more affordable for holders of other currencies.

Squarely in focus are upcoming inflation data and the renewed conflict between the US and Iran, which may impact interest-rate outlooks.

Spot gold rose 0.4% to $4,372.19 per ounce by 0230 GMT, while U.S. gold futures lost 0.5% at $4,416.00.

Kelvin Wong, senior market analyst at OANDA, said, 'In the gold market, there is a tug of war in the short term between the bulls and the bears. We may see this kind of movement until the end of this week, when the CPI report is released.'