Gold futures settled higher on Tuesday, rebounding from early losses in the session buoyed by the slip in dollar. Albeit, anxieties over pivot interest rate hikes by US Federal Reserve amid rising inflation limited sharp gains. Investors keenly awaited for Thursday’s CPI report as it is a gauge for interest rate outlook.
Gold futures for December rose by $10.80 or 0.6% to settle at $1686 ounce on the Comex division of the New York Mercantile. While, spot gold jumped by 0.6% or $1677.70 per ounce.