Gold dips

Bengaluru : Gold prices were muted day as the dollar extended gains from the previous session when strong United States inflation data and trade war concerns boosted demand for the greenback.

Spot gold was down about 0.1 percent at $1,246.11 an ounce at 0050 GMT. U.S. gold futures for August delivery were little changed at $1,246.30 an ounce.

The U.S. dollar hit a six-month high against the Japanese yen on Friday. Against a basket of six major currencies , the dollar was up 0.1 percent at 94.899.

U.S. consumer prices recorded their largest increase in nearly 6-1/2 years in the year through June, while the monthly pace continued to suggest a steady buildup of inflation that could keep the Federal Reserve on a path of gradual interest rate increases.