Bengaluru — Gold prices crept lower on Tuesday as investors waited for US consumer price data due later in the day to gauge the outlook for inflation and the Federal Reserve’s rate hike stance. Spot gold dipped 0.1% to $1,321.34 an ounce at 3.59am GMT. US gold futures for April delivery rose 0.1% to $1,321.60/oz. The dollar index, which measures the dollar against a basket of currencies, was up 0.1% at 89.977, recovering from an earlier dip. "Gold traders are adopting a more neutral stance…. While a March hike is fully priced in, traders usually get a bit anxious awaiting the Fed statement and key forward guidance," said Stephen Innes, head of Asia-Pacific trading at Oanda. "We should expect interest rate uncertainty to weigh on prices over the short term." The US government is expected to release consumer price index (CPI) data at 12.30pm GMT, a key focus for the day. The median forecast by economists polled by Reuters points to annual core CPI inflation of 1.8% in February, which ...
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