WASHINGTON (dpa-AFX) - Gold futures settled higher on Tuesday ahead of key U.S. producer price and consumer price inflation data, and the European Central Bank's monetary policy announcement.
A slightly stronger dollar limited the yellow metal's gains. The dollar index, which climbed to 101.77 around mid morning, eased a bit to 101.66, but still remained above the flat line, gaining about 0.1%.
Gold futures for September ended higher by $10.50 or about 0.4% at $2,512.30 an ounce.
Silver futures for September settled at $28.257 an ounce, down $0.034 or about 0.12% from the previous close, while Copper futures for September dropped to $4.0340 per pound, losing $0.0505.
The U.S. CPI data is due on Wednesday and the PPI on Thursday. The readings could offer hints about the size of the Federal Reserve's interest rate reduction next week.
CME Group's FedWatch Tool currently indicates a 73% chance the Fed will lower rates by 25 basis points and a 29% chance of a 50-basis point rate cut.
Investors are also awaiting the presidential debate between Democrat Kamala Harris and Republican Donald Trump, due later today.
The European Central Bank is expected to lower borrowing costs for a second time this year on Thursday due to falling inflation and sluggish growth.
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