Gold futures finished higher on Tuesday, whetted by the inflation hedge appeal of the bullion after US inflation rises again for the month of June at the fastest pace in 13 years. US consumer prices gained momentum amid supply constraints and a continued rebound in the costs of travel-related services from pandemic-depressed levels. However, firmness in dollar amid economic rebound optimism capped some yellow metal gains.
Gold futures for August rose by 0.2% or $4 to settle at $1,809.90 an ounce on the Comex division of the New York Mercantile. While, spot gold was steady at $1,806.64 per ounce.