Gold prices are up slightly amid cautious moves Tuesday morning, ahead of the release of U.S. consumer price inflation data.
Traders are also looking ahead to the minutes from U.S. Federal Reserve's July monetary policy meeting, due Wednesday.
Gold futures for December delivery are up $3.60 or 0.28 percent at $1,302.90 an ounce.
Gold futures ended down $6.90 or 0.5 percent at $1,299.30 an ounce on Monday, as investors sought riskier assets, tracking strong global equity markets.
The dollar's rise against some major currencies on the back of an upbeat U.S. homebuilder confidence data too contributed to the yellow metal's decline.
Silver for September is up $0.058 or 0.30 percent at $19.693 an ounce. Meanwhile, copper is up $0.005 or 0.15 percent at $3.114 per pound.
The U.S. Labor Department will release its consumer price inflation report at 8:30 am ET. Economists expect the consumer price index to edge up by 0.1 percent month-over-month in July, while core consumer price index may have risen 0.2 percent.
Around the same time, the Commerce Department is due to release its housing starts report for July. The consensus estimates call for housing starts to come in at a seasonally adjusted annual rate of 963,000 in the month.
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Market Analysis
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.