Gold prices rose on Tuesday, rising near a 3-week high after falling yesterday due to corrections and profit-taking, ahead of key US inflation data later today. 

Gold prices rose 0.4% to $1,812.80 an ounce, after opening at $1,806.11, and a high at $1,805.90.

Gold lost 0.1% yesterday, the first daily loss in 9 days due to profit-taking from a 3-week high of $1,818.38.

Gold prices lost around 7% during June, after hitting a 2-month low at $1,750.58 an ounce, after the Federal Reserve revealed a new direction to tighten the US monetary policy and the expectations of interest rates and inflation.

During the June 15-16 meeting, the US Federal Reserve decided to hold the interest rate between zero and 0.25% unchanged, and addressed the recent rise in inflation according to the recent economic data, as the Fed officials see that the rise in consumer prices is temporary.

Investors are buying up the dollar ahead of inflation data later today, which might lead to earlier policy tightening by the Federal Reserve, and it might trim its bonds purchases program as an initial step to raise interest rates. 

At 12:30 GMT, the US consumer price index is expected up by 4.9% y/y in June from 5% in May, and the monthly reading is expected up 0.5% from 0.6%.

Gold stocks at the SPDR ETF fell 2.91 metric tonnes yesterday, with the total at the lowest level since last May 20 of 1,037.28 metric tonnes.

Euro fell in European trade on Tuesday  for a second session as investors buy up the dollar as a haven investment ahead of crucial US inflation data later today. 

EUR/USD fell 0.2% to 1.1841, after closing down 0.15% yesterday, the first loss in three days on higher US treasury yields. 

The dollar index rose 0.15% on Tuesday for another session against a basket of major rivals. 

Investors are buying up the dollar ahead of inflation data later today, which might lead to earlier policy tightening by the Federal Reserve. 

The Fed might trim its bonds purchases program as an initial step to raise interest rates. 

Oil prices fell on Monday, as the US dollar rose against its peers, and after the OPEC-Plus meeting failed to resolve the Saudi-UAE dispute.

OPEC Secretary-General of Mohammed Barkindo announced the cancellation of the OPEC-Plus meeting last week.

Observers see that the meeting failed due to the dispute between Saudi Arabia and the UAE, especially due to Abu Dhabi's insistence on increasing its oil output.

The dollar index rose against a basket of major currencies by 0.1% to 92.1 points as of 18:10 GMT, after hitting a high of 92.4 points and a low of 92.08 points.

As of 18:07 GMT, WTI crude August futures fell 1.1% to $73.7 a barrel, after hitting a high of $74.9 and a low of $73.1.

Brent August futures fell 0.8% to $74.9 a barrel, after hitting a high of $75.8 and a low of $74.2.

The US dollar rose against most of its peers on Monday, amid anticipation of the US corporate business results season.

Major US banks will start announcing their Q2 business results this week, followed by tech, automotive and other companies.

The US consumer price index reading will be released also later this week, which is a major inflation gauge.

Bearing in mind that the Federal Reserve officials see that the rise in consumer prices is temporary, and projected two interest rate hikes in 2023.

The dollar index rose against a basket of major currencies by 0.1% to 92.1 points as of 18:14 GMT, after hitting a high of 92.4 points and a low of 92.08 points.