Gold rises as dollar eases; US inflation data on radar
GLD•Other precious metals
- Among other metals, spot silver XAG= gained 0.3% at $66.34 per ounce, platinum XPT= rose 0.6% at $1,836.97 and palladium XPD= climbed 0.9% to $1,401.47.
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Gold edges higher as dollar slips
Sept. 8 (Reuters) - Gold prices nudged higher on Tuesday as the U.S. dollar slipped, with focus on upcoming inflation data that could shape expectations for the Federal Reserve's next policy move.
- Spot gold XAU= was up 0.3% at $4,418.79 per ounce, as of 0048 GMT. U.S. gold futures GCcv1 for December delivery were down 0.3% at $4,464.80.
- The U.S. dollar index .DXY slipped 0.3%, making greenback-priced metals more affordable for other currency holders.
Other macro and geopolitical factors
- Deutsche Bank now expects the European Central Bank to raise interest rates by 25 basis points in December in addition to a September hike, as persistent energy risks keep pressure on the inflation outlook.
- On the geopolitical front, Iran threatened to retaliate against any new U.S. attacks on its assets, warning that energy infrastructure across the Gulf, including U.S. oil and gas interests, was vulnerable.
