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Gold Prices Climb as Dollar Weakens Ahead of Inflation Data

Guavy AI Editorial Team
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USD
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Gold prices rose on Tuesday as the US dollar weakened, ahead of key inflation data that could influence the Federal Reserve's next policy move.

The price of spot gold climbed to $4,442.70 per ounce earlier in the session before slipping slightly to $4,385.85 by 2:16 p.m. ET, a 0.4% decline from its peak.

US gold futures for December delivery dropped 1% to $4,431.00, amid rising oil prices that fueled inflation concerns and boosted expectations of a rate hike in September.

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