Gold Prices Drift Higher as Key US Inflation Data Looms

Singapore, Gold prices drifted up on Tuesday, with the spotlight shifting to key inflation reports due this week, which could offer more insights on the pace and scale of the US Federal Reserve’s (central bank) interest rate cuts this year.

Spot gold was up 0.4% at $2,344.39 per ounce, after falling 1% on Monday.

US gold futures rose 0.3% to $2,350.00.

Spot silver rose 0.8% to $28.41 per ounce and palladium gained 0.8% to $968.43.

Platinum was up 0.6% to $1,002.90, after hitting a near one-year peak.

Source: Qatar News Agency

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