Gold Prices Stabilize Ahead of US Inflation Data and Fed Chair Speech
Gold prices stabilized on Tuesday after reaching a three-month peak, but investors are now focusing on upcoming US inflation data and a speech by Federal Reserve Chair Kevin Warsh.
The price of gold steadied at $4,645.67 per ounce by 0651 GMT, following its highest level since May 14 earlier in the day.
US gold futures rose 0.1% to $4,702.00.
Analyst Tony Sycamore from IG Markets expects dips in gold prices to be supported by buyers looking for the metal to reach $4,900 or $5,000.