Gold prices rise on inflation and economic uncertainty.

Gold prices rose slightly on Tuesday as investors sought cover from economic uncertainty, including the debt ceiling deadlock in Washington, while also positioning for the US inflation print for cues on the trajectory of interest rates. Equities markets dipped as traders were kept on edge by weak Chinese trade data and the impasse over the US debt ceiling. Markets are pricing in an 82% chance of the Fed keeping rates on hold in June and a 33% chance of a cut in July.