Gold Rises for First Time in Three Sessions

Gold prices rose on Tuesday, following two consecutive daily declines, as the U.S. Dollar (USD) retreated following the release of inflation data.

The yellow metal futures for June delivery gained $14.90, or 0.9%, to close at $1,747.60 per ounce.

Yesterday, gold futures dropped by 0.7% to settle at their lowest level in a week.

Earlier, data showed an increase in the consumer price index (CPI) in the United States during March by 1.6% on an annual basis, registering its highest increase in about eight and a half years.