March 11 (Reuters) - Gold prices gained nearly 1% on Tuesday amid a weaker dollar and economic slowdown worries due to tariff wars, while investors strapped in for a key inflation print that could shed light on U.S. monetary policy move.
Spot gold firmed 0.9% to $2,915.00 an ounce as of 1246 GMT. U.S. gold futures rose 0.8% to $2,921.10.
The U.S. dollar index hit its lowest level since early November. A softer dollar makes greenback priced-bullion more affordable for other currency holders.
"Gold is likely to remain supported amid ongoing market uncertainties, bolstering demand for the safe-haven asset. However, any positive developments in Russia-Ukraine negotiations could reduce risk premiums," said Zain Vawda, market analyst at MarketPulse by OANDA.
The tariff policies implemented by U.S. President Donald Trump against key trading partners have caused significant volatility in global markets and heightened concerns about economic growth.
Bullion is considered a hedge against uncertainties and tends to thrive in a low-interest environment since it is a non-yielding asset.
Market attention is also on U.S. Consumer Price Index (CPI) on Wednesday and Producer Price Index (PPI) print on Thursday. According to a Reuters poll, February's CPI is expected to have climbed 0.3%.
Unless the data significantly deviates from expectations, its impact is likely to be short-lived, Vawda added.
Traders are currently expecting the Federal Reserve to cut interest rates in June. FEDWATCH
"Gold price is already trading at a very high level due to the sharp rise since the start of the year, which limits the upside potential," Commerzbank said in a note.
Spot silver added 1.3% to $32.53.
Platinum was up 1.7% at $973.44 and palladium gained 0.2% to $944.70.
Bank of America said in a note that lingering concerns over trade disputes may well mean that PGMs (platinum group metals) get stranded in the U.S. for a bit longer.
Reporting by Ashitha Shivaprasad and Sarah Qureshi in Bengaluru, editing by Ed Osmond
