Nonetheless, investors continued to tread cautiously amid a mixed batch of recent global economic data, while awaiting further reports later in the week.
In economic news, Chinese inflation accelerated more than expected to a level last seen in January on higher food prices, while producer prices declined at a slower pace for the second month in May. Meanwhile, wholesale inventories in the US increased much more than expected in April, partly due to some continued growth in inventories of non-durable goods.
Gold for August delivery, the most actively traded contract, gained
Gold for June delivery scaled an intraday high of
Gold ended slightly higher on Monday with little economic data released for direction even as investors continued to opt for the riskier equity assets tracking rising global markets.
The dollar index, which tracks the US unit against six major currencies, traded at 80.85 on Tuesday, up from its previous close of 80.62 late Monday in North American trade. The dollar scaled a high of 80.85 intraday and a low of 80.55.
The euro traded lower against the dollar at
On the economic front, Chinese inflation rose to a 5-month high of 2.5% in May, but still below the government's target of 3.5%. Inflation was pushed up largely by rising food inflation with food prices rising 4.1%, while non-food prices gained only 1.7% in May.
In economic news from the US, a report from the
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