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BENGALURU- Gold prices held steady on Tuesday as the dollar eased, while investors looked forward to key US inflation data that could offer clues on how soon the Federal Reserve can cut interest rates.
Spot gold was flat at $2,350.85 per ounce, after rising about 1 percent in the previous session.
US gold futures rose 0.8 percent to $2,352.00.
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“A very strong dollar picture supported by a change in the US monetary policy stance where the Fed starts looking for evidence to kick start interest rate hikes instead of easing could be a major risk as we could see a further corrective move in spot gold,” said Kelvin Wong, a senior market analyst for Asia Pacific at OANDA.
