Doha: Gold inched higher on Tuesday, ahead of the release of US inflation data later in the day that could shed more light on the Federal Reserve’s interest rate path. Spot gold was up 0.1% at $3,346.94 per ounce, while US gold futures remained flat at $3,355.60.

According to Qatar News Agency, traders are now focusing on the US consumer price data for June, which is set to be released on Tuesday. This data is expected to provide further insights into the Federal Reserve’s future interest rate decisions.

In addition to gold, other precious metals saw modest gains. Spot silver increased by 0.3% to reach $38.24 per ounce. Platinum also rose by 0.3%, reaching a price of $1,368.30. Palladium experienced a slight increase of 0.1%, with a new price of $1,194.52.