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Gold Firms As Inflation Concerns Hit Risk Appetite

Gold traded firm on Tuesday as investors fretted about issues including inflation, pressures on quarterly earnings and China Evergrande Group's debt crisis.

Spot gold rose 0.3 percent to $1,760.01 per ounce, while U.S. gold futures were up 0.3 percent at $1,760.25.

Risk sentiment in wider financial markets was subdued amid the Evergrande contagion worries after the company reportedly missed paying all of its offshore bondholders by Monday deadline.

In addition, rivals Modern Land and Sinic are attempting to delay bond payment deadlines in the latest sign of an escalating debt crisis.

Traders also awaited cues from the U.S. corporate earnings season, with analysts expecting companies to report slowing growth due to supply-chain snags and rising prices.

JPMorgan reports earnings on Wednesday, followed by BofA, Morgan Stanley and Citigroup on Thursday, and Goldman on Friday.

On the data front, focus remains on minutes of the Fed's Sept. 21-22 policy meeting and the consumer price index, both due on Wednesday.

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