Gold ticks higher, US inflation data in focus

Gold ticks higher, US inflation data in focus
# 08 May 2023 09:00 (UTC +04:00)

Gold prices edged up on Monday as the dollar eased, while investors awaited a key U.S. inflation data due this week that could influence the Federal Reserve's monetary policy stance, APA-Economics reports citing Reuters.

Spot gold firmed 0.3% at $2,021.80 per ounce, as of 0323 GMT. U.S. gold futures rose 0.2% at $2,028.20.

The dollar index dipped 0.1%, making bullion more attractive to overseas buyer.

The U.S. consumer price index (CPI) data is due on Wednesday.

Spot silver was up 0.2% at $25.70 per ounce.

Platinum rose 0.2% at $1,061.36, and palladium gained 1.3% to $1,510.55.

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