Gold prices inched up in early Asian hours on Tuesday, as the dollar eased off a 20-year high, offsetting pressure from expectations of the U.S. Federal Reserve keeping interest rates higher for longer to combat inflation.
Spot gold ticked 0.1% higher to $1,739.14 per ounce, as of 0058 GMT. Prices hit a one-month low of $1,719.56 on Monday, following Fed Chair Jerome Powell’s hawkish remarks at Jackson Hole symposium on Friday.
U.S. gold futures rose 0.1% to $1,751.7.
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