Gold prices rose on Tuesday on a weaker dollar ahead of key of economic data from China and the United States due in the week, as well as U.S. Federal Reserve Chair Jerome Powell's upcoming speech, to assess how rate hikes would pan out.
Spot gold rose 0.3% to $1,928.14 per ounce by 0402 GMT while U.S. gold futures were up 0.2% to $1,937.70.
"If the dollar falls but yields edge up (softer Fed tone, neutral/upbeat data), gold may stumble but remain muted as silver, platinum and palladium rise," said Ilya Spivak, head of global macro at Tastylive.
"Looking ahead, (gold) will continue to try reconciling signs of a deepening slowdown in global economic activity with this hawkish central bank turn."
The dollar index edged down 0.1%, making greenback-priced bullion more attractive for overseas buyers.
Source : Reuters
