gold futures on tuesday were headed higher attempting to rebound from the first loss on monday for the commodity in eight sessions with the precious metal drawing support from higher inflation in much of the world the early gains on tuesday came despite a slight pop higher in the us dollar as measured by the ice us dollar index which was up 01 on tuesday hanging near its highest level in about 16 months a firmer dollar can make assets priced in the currency comparatively more expensive to overseas buyers “the price of the precious metal remains supported despite the strengthening dollar as inflationrelated worries drive higher demand for the safe haven of gold” wrote ricardo evangelista senior analyst at activtrades in a daily research note december gold gcz21 gc00 was trading 640 or 03 higher at 1873 an ounce following a 01 decline on monday which ended a string of gains of the longest string of gains for a mostactive contract seven straight days since a nineday rise that ended on july 29 2020 according to dow jones market data commodity investors are training their eye on tuesday’s data which include a report on us retail sales for october and a report on import and export prices both at 830 am et a reading of us industrial production at 915 am may also be watched for signs of health of the world’s largest economy and its recovery from covid19 meanwhile silver for december delivery siz21 si00 was trading 25 cents or 1 higher at 2535 an ounce