Gold Gains as Weaker Dollar Boosts Appeal

The price of gold rose by 0.85% to $4,443.06 an ounce on Tuesday in European trading, marking its first gain in three days.

This increase was largely due to the weakening of the US dollar, which fell 0.2% and reached a three-week low against a basket of major currencies.

The decline in the US dollar makes gold more attractive to buyers holding other currencies, as it is denominated in dollars.

Markets are awaiting key US inflation data this week, including the Producer Price Index on Thursday and Consumer Price Index figures on Friday, which will provide crucial clues about the Federal Reserve's interest rate path.