Weaker Dollar Sends Gold Prices Steady Ahead of Key Inflation Figures

Gold prices remained steady on Tuesday as investors held their breath ahead of key US inflation figures. The precious metal had retreated in the previous two sessions after data showed a sharp pickup in US job creation for August, signaling continued strength in the labor market.

The weakening dollar index, which slipped 0.4%, lowered the cost of dollar-priced bullion for buyers holding other currencies. This development has sparked interest in gold, which currently stands at $4,426.91 an ounce, according to Mettis Global data.

Markets are now focused on the upcoming US producer price index and consumer price index, due Thursday and Friday respectively. These figures will likely influence the Federal Reserve's next policy decision, with traders pricing in a 60% likelihood of a policy move at next week's Fed meeting.