Gold prices increased on Tuesday as the dollar declined, although price movement remained within a narrow range. Traders are awaiting the release of U.S. inflation data later today, as well as the Federal Reserve's decision tomorrow regarding monetary policy. Spot gold rose 0.2% to $1960.59 per ounce by 04:26 GMT. U.S. gold futures increased by 0.3% to $1974.60. The dollar fell by 0.2%, making gold priced in U.S. dollars more attractive to holders of other currencies.
Gold Price Rises as Dollar Weakens
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