Abu dhabi: Gold prices climbed on Tuesday as the US dollar slipped, with focus on upcoming inflation that could shape expectations for the Federal Reserve's next policy move. Spot gold was up 0.6 percent at $4,429.89 per ounce, as of 02:08 GMT. US gold futures for December delivery were little changed at $4,475.10.
According to Emirates News Agency, the easing of the dollar has provided support to gold prices, as investors keep a close watch on inflation data that might influence the Federal Reserve's future decisions on interest rates. The shift in the dollar's strength could have implications for the overall economic outlook, influencing investment choices in precious metals.
Among other metals, spot silver gained 1 percent at $66.78 per ounce, platinum rose 0.4 percent at $1,834.00, and palladium firmed 1 percent to $1,402.87. These movements in metal prices reflect broader market trends as investors adjust their portfolios in response to currency fluctuations and anticipated economic reports.