Gold traded higher due to a weaker U.S. dollar. Gains are limited as market participants speculate the Fed could start raising its interest rate in September.
Investors eyed comments by the Fed Vice Chairman Stanley Fischer. He said in an interview Monday on Bloomberg Television on Monday that inflation in the U.S. is very low, but is temporary. Fischer pointed out that inflation was low due to declines in oil prices and in raw materials.
October futures for gold on the COMEX today rose to 1102.60 dollars per ounce.