Gold prices inched higher on Tuesday as appetite for risk weakened ahead of U.S. inflation data that could support the Federal Reserve’s aggressive policy stance to contain rising pricing pressures.
Spot gold was up 0.2% at $1,956.78 per ounce, as of 0621 GMT, after hitting its highest in nearly a month on Monday. U.S. gold futures rose 0.6% at $1,960.30.
ABC Bullion’s global general manager, Nicholas Frappell, said gold was catching a bid on weaker equities and geopolitical tensions while facing headwinds from weakening crude, a firmer dollar and rising real yields.
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