Gold up slightly ahead of inflation data, US interest rate ‎decision

Gold prices rose slightly, today, Tuesday, amid investor caution, with anticipation of US inflation data and the monetary policy decision of the Federal Reserve (US Central Bank).

According to Reuters, gold rose in spot transactions by 0.1 percent, to $ 1,783.16 an ounce, by 1011 GMT. US gold futures rose 0.1 percent to $1,793.90.

The dollar index fell 0.1, making bullion priced in the greenback more attractive to buyers holding other currencies.

The Federal Reserve is due to issue a policy statement at 1900 GMT on Wednesday, followed by a press conference by Bank Chairman Jerome Powell at 1930 GMT.

Dealers are currently expecting, by a very large percentage, that the US Central Bank will raise the interest rate by 50 basis points.

The Bank of England and the European Central Bank will also meet this week, and each is expected to raise interest rates by 50 basis points.

US consumer price data for November is due at 1330 GMT.

As for other precious metals, silver rose in spot transactions by 0.2 percent to $ 23.34 an ounce, and platinum fell 0.3 percent to $ 998.51, while palladium rose 0.4 percent to $ 1894.75.