Gold moves in a narrow range

Gold prices remained locked in a narrow range on Tuesday, as investors’ focus shifted to US inflation data scheduled for release later this week, which may shed more light on the timing of the first interest rate cut by the US central bank this year.

Financial markets analyst Kyle Rodda at Capital.com said, “We lack new catalysts, but at the present time the market appears to be consolidating and catching its breath after a fairly strong rally.”