Gold Dropped As The Dollar Inched Up As Traders Awaited The U.S. Inflation Data

Gold trading range for the day is 30846-31246.

Gold dropped as the dollar inched up as traders awaited the U.S. inflation data due later this week.

U.S. central bank last week indicated it planned to raise rates next month and remained on track for two more potential hikes by mid-2019 on the back of an upbeat economy.

The US Dollar found renewed haven appeal against the risk-off backdrop, and its rise undermined the appeal of anti-fiat alternatives epitomized by the yellow metal.

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