New york: Gold prices nudged higher today, after a sharp decline in the previous session, as investors looked forward to US inflation data that could offer further insight into the Federal Reserve's rate-cut trajectory. Spot gold was up 0.3% at $3,354.91 per ounce. US gold futures for December delivery were steady at $3,405.40.

According to Oman News Agency, gold slipped 1.6% yesterday, while futures dropped by more than 2% after US President Donald Trump said tariffs will not be placed on imported gold bars, easing jitters in the market. This announcement came as a relief to investors, who were concerned about potential disruptions in the gold market due to trade policies.

Elsewhere, spot silver gained 0.7% to $37.88 per ounce, platinum rose 0.3% to $1,330.25, and palladium climbed 0.9% to $1,145.47. These movements in the precious metals market indicate a broad interest among investors as they adjust their portfolios in anticipation of upcoming economic data and potential shifts in monetary policy.