Gold prices fall amid strong dollar, before inflation data

Gold prices fall amid strong dollar, before inflation data

Mubasher: Gold prices decreased markedly on Tuesday, driven by stronger dollar and market concerns ahead of US inflation data due later in the day.

By 11:38 am GMT, gold futures slipped 0.14% to $1,319.00 per ounce, while the US dollar index rose by the same percentage to 90.023.

US consumer prices data, due at 12:30 pm GMT, is widely expected to quicken the pace of the Federal Reserve Bank’s interest rate hikes and affect its monetary policy stance.

Analysts, polled by MarketWatch, had expected a 0.2% increase in inflation during February.

Source: Mubasher

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