Gold Rises as Dollar Eases Ahead of Inflation Data

Gold prices rose on Tuesday as the US dollar eased, ahead of key inflation data that could influence the Federal Reserve's next policy move.

Spot gold was up 0.6% at $4,429.89 per ounce, while US gold futures for December delivery were little changed at $4,475.10.

The US dollar index ticked 0.4% lower, making greenback-priced metals more affordable for holders of other currencies.

According to Chris Weston, head of research at Pepperstone Group, 'Gold remains locked in a battle between buyers and sellers, with neither party showing enough conviction to drive a sustained and persistent directional move.'

The upcoming US producer price index data on Thursday and consumer price index data on Friday will be closely watched for signs of inflation.