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July 11 – Gold gained on a weaker dollar on Tuesday but struggled for momentum, as investors were wary of placing big bets ahead of U.S. inflation data that could influence the Federal Reserve’s policy trajectory.
Spot gold rose 0.3% to $1,931.62 per ounce by 0717 GMT. U.S. gold futures were also up 0.3% to $1,937.10.
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A weaker dollar is supporting bullion as the Fed seems to imply that its at the end of its monetary tightening cycle, “but gold bugs appear hesitant to overcommit ahead of Wednesday’s U.S. inflation report”, said Matt Simpson, senior market analyst, City Index.
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