Gold fell on Tuesday as the dollar rose, while investors cautiously awaited economic data due this week to assess inflation pressures and the US Federal Reserve’s stance on monetary policy.
And gold fell in spot trading 0.1 percent to $ 1896.94 an ounce (an ounce) by 0505 GMT, while gold settled in futures trading in the United States at $ 1899.10.
The dollar index rose 0.1 percent against its rivals, making gold more expensive for holders of other currencies.
“Inflation has been on the rise in recent weeks, and traders are waiting for confirmation from US data this week that price levels will continue to rise,” said Margaret Yang, an analyst at the DailyFix, referring to Thursday’s US consumer price report.
“(US data) is expected to have a mixed effect on gold,” she said.
On the positive side, gold is considered a hedge against inflation, so higher numbers increase the attractiveness of gold,” she said, adding that higher inflation would raise concerns about the Fed easing loose monetary policy.
In terms of other precious metals, silver fell 0.3 percent to $ 27.78 an ounce, and palladium gained 0.2 percent to $ 2838.28, while palladium fell 0.5 percent to $ 1167.18.