Gold is in a Narrow Range Near $ 1,800 Amid Uncertainty of Stimulus

Gold prices held within a narrow range near the key $1800 level as lower US inflation data fueled doubts about the time frame for the Federal Reserve’s move to cut stimulus measures.

Spot gold fell 0.2 percent to $1,800.3 an ounce by 0904 GMT, but was slightly below a week’s peak reached on Tuesday at $1,808.50, in part because the dollar recovered somewhat from its losses as a result of inflation data.

And gold futures in the United States fell 0.3 percent to $ 1801.80.

A strong dollar increases the cost of the yellow metal to holders of other currencies.