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Gold inches higher as CPI data, central bank meetings approach

Gold prices rose slightly on Tuesday, but stuck to a tight trading range as traders hunkered down ahead of key U.S. inflation data, as well as a swathe of major central bank meetings this week.The yellow metal has struggled to break out of a trading range over the past three weeks, amid mixed cues on the global economy and U.S. monetary policy.Focus is now on U.S. inflation data due later in the day, which is expected to largely factor into a Federal Reserve rate decision later in the week, and could provide some cues for gold to break out of its trading range.Spot gold rose slightly to $1,9657.88 an ounce, while gold futures rose 0.1% to $1,971.75 an ounce by 20:59 ET (00:59 GMT). Both instruments have traded between $1,930 and $2,000 for the past three weeks.

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