US PCE price index data due on Friday
Gold jumped over 1 earlier in the session, just below record highs

March 26 Reuters Gold prices climbed on Tuesday, buoyed by a weaker U.S. dollar, while investors waited for data due later in the week to reveal underlying inflation trends that will help gauge the Federal Reserve39;s interestrate stance.

Spot gold rose 0.5, to 2,182.77 per ounce, by 0958 a.m. EDT 1358 GMT, having jumped as much as 1.3 earlier in the session. U.S. gold futures for April delivery rose 0.3, to 2,183.00.

The dollar index slipped 0.1, making gold cheaper for overseas buyers.

Closer to the summer, you39;re going to see gold go higher just with the expectation of rate cuts, unless the Fed changes stance or makes some announcement that they39;re taking cuts off the table, which I don39;t see them doing at this point, said Bob Haberkorn, senior market strategist at RJO Futures.

Market focus is on the U.S. Core Personal Consumption Expenditure Price Index data PCE due on Friday.

If the PCE numbers are higher than expected, then gold will probably pull back, but I expect those dips to be brought up fairly quickly, Haberkorn said.

Market reaction to the data may only be seen next week, on account of the Good Friday holiday.

Nonyielding bullion logged a record high of 2,222.39 last week after Fed policymakers indicated that they still expected to cut rates by threequarters of a percentage point by end2024.

Gold prices also continue to find support…