Gold edges higher on dollar dip with US data in focus

Gold edges higher on dollar dip with US data in focus
# 25 April 2023 09:48 (UTC +04:00)

Gold prices ticked higher on Tuesday after the dollar retreated as cautious investors awaited further U.S. economic data due this week to gauge the Federal Reserve's next policy move, APA-Economics reports citing Reuters.

Spot gold rose 0.3% to $1,994.90 per ounce by 0311 GMT, and U.S. gold futures also gained 0.3% to $2,005.00.

The dollar index dipped, making greenback-priced gold more attractive for buyers holding other currencies.

Among other precious metals, silver fell 0.1% to $25.14 per ounce and palladium was down 0.2% at $1,532.24.

Platinum rose 0.3% to $1,084.78 after falling more than 3% in the previous session.

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