The precious metal hit a high of $1282.06 an ounce, while currently trading around $1280.27 from the opening at $1273.02.
The dollar index, which tracks the green currency’s movements versus a basket of six major currencies, retreated for a second straight session.
The green currency is currently trading around 94.35, compared to the opening at 94.72, where the release of upbeat U.S. data could not help the dollar to reverse losses.
Data released today showed that U.S. consumer prices rose at the fastest pace in more than three years in April.
Another report showed rise in housing starts and building permits in April, adding more positive outlook about the U.S. economy.
The sanguine data raised expectations the Fed may hike its interest rates next month, pushing U.S. shares lower.
The case for an interest-rate increase in June “looks to be pretty strong,” Richmond Fed President Jeffrey Lacker said on Monday.
Dow Jones slipped 0.22 percent to 17,671.88, S&P 500 sagged 0.20 percent to 2,062.46 and Nasdaq fell 0.15 percent to 4,768.17.
Billionaire George Soros said he slashed investment in US shares by one-third and purchased a $264 million stake in the world’s biggest bullion producer, Barrick Gold, making a new bet on gold.
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