Gold rose on Thursday, January 11, while the dollar continued to decline ahead of inflation data in the United States, which would provide more indications about the path that the US Federal Reserve may follow for monetary policy during this year.
Gold in spot transactions increased 0.3% to $2,028.78 per ounce by 0322 GMT, and US gold futures rose 0.3% to $2,033.00.
The dollar index fell 0.1%, declining for the second session, which increases the attractiveness of the precious metal for holders of other currencies.
Matt Simpson, chief analyst at City Index, said that the publication of CPI data in the United States looms on the horizon, and speculators may take a cautious approach before the upcoming publication.
Lower interest rates reduce the opportunity cost of holding non-yielding bullion. As for other precious metals, silver rose in transactions
Spot rose 0.5% to $22.96 per ounce, palladium gained 0.8% to $1006.84, while platinum settled at $919.15.
