July 14 (Reuters) - Gold gained more than 2% on Tuesday after softer-than-expected inflation data boosted hopes of the U.S. Federal Reserve adopting a less hawkish stance.
Spot gold XAU= was up 1.6% at $4,063.15 per ounce by 12:20 p.m. EDT (1620 GMT), after falling to its lowest level since July 1 earlier in the session.
U.S. gold futures GCcv1 gained 1.6% to $4,070.30.
The U.S. dollar fell 0.6%, making greenback priced-bullion more affordable for other currency holders. USD/
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