Gold prices rose, as disappointing data on US inflation eased reasons for the tightening of monetary policy of the Fed, putting pressure on the US dollar.

The US Commerce Department reported that the Consumer Price Index rose by 0.3% in September compared with the previous month, in line with expectations, after rising in the previous month by 0.2%. In annual terms, the consumer price index increased by 1.5% last month, in line with expectations, after rising 1.1% in August. The value was the highest since October 2014.

The consumer price index (excluding food and energy) rose a seasonally adjusted 0.1% last month, lower than the forecasts of +0.2%. In the 12 months to September core consumer price index rose by 2.2%.

USD index, which measures the value of the US currency against a basket of six major currencies, fell 0.2% to 97.66 on Tuesday morning after falling from a seven-month high the previous session.

The cost of December futures for gold on COMEX rose to $ 1265.0 per ounce.