Gold prices rose on Tuesday, helped by a softer U.S. dollar and inflationary risks posed by President-elect Donald Trump's potential tariff policies, which could influence the pace of Federal Reserve monetary policy easing this year.
Spot gold rose 0.3% to $2,669.09 per ounce as of 0932 GMT. U.S. gold futures gained 0.2% to $2,683.20.
"This news led to a slight decline in U.S. Treasury yields and a weakening of the dollar."
The dollar index fell 0.4% from a more than two-year high hit in the last session as traders scaled back U.S. rate cut bets for 2025 after a strong jobs report. A softer dollar makes gold more affordable for buyers using other currencies.
Spotlight is moving to the Consumer Price Index (CPI) numbers due on Wednesday. A Reuters poll of economists gives a median forecast for an annual rise of 2.9%, up from November's 2.7%.
Investors are also looking out for U.S. Producer Price Index (PPI) data which is due at 1330 GMT and U.S. retail sales on Thursday for further insights into the economy and the Fed's 2025 policy trajectory.
Spot silver firmed 0.4% to $29.70 per ounce, and palladium climbed 1% to $948.29.
Source: Reuters
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