Gold prices edge higher with US inflation data on tap

Gold prices edge higher with US inflation data on tap

Investing.com-- Gold prices rose slightly in Asian trade on Tuesday, recovering marginally from steep losses in the prior session as focus remained squarely on upcoming U.S. inflation data for more cues on interest rates.

While this trade pointed to more headwinds for gold, the yellow metal benefited from increased safe haven demand amid heightened geopolitical tensions in the Middle East. But some de-escalation, specifically between Iran and Israel, left gold vulnerable to pressures from interest rates. Chinese authorities said they will begin issuing the bonds, which will be dated between 20 and 40 years, by this week. The issuance is aimed chiefly at shoring up infrastructure spending and boosting an economic recovery in the country.News of the Chinese bond issuance largely offset negative cues on China’s property market, as another major developer defaulted on its bond payments.

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