Gold dips ahead of US inflation data

Spot gold fell 0.3% to $4,128.48 per ounce by 0024 GMT after rising more than 1% in the previous session on softer oil prices. US gold futures for December delivery rose 0.6% to $4,137.60.

* Spot gold fell 0.3% to $4,128.48 per ounce by 0024 GMT after rising more than 1% in the previous session on softer oil prices. US gold futures for December delivery rose 0.6% to $4,137.60.

* US President Donald Trump said on Monday he plans to hold off on new military strikes against Iran for the time being after appeals from countries in the region, including Qatar's prime minister in White House talks.

* Brent crude futures continued tumbling after settlement on Monday to lose more than $7 a barrel, hitting their lowest since late August.

* The US central bank should move its monetary policy "with care" as it maps a response to inflation that remains its greatest risk, Richmond Federal Reserve President Tom Barkin said on Monday, adding he had no base case for what should be done at the December meeting.

* Traders currently see an 84% chance that the Fed will raise rates in December, according to CME's FedWatch tool.

* Higher interest rates increase the opportunity cost of holding non-yielding bullion, reducing its appeal to investors.

* The consumer price index (CPI) report is due at 1330 GMT later in the day, followed by the producer price index (PPI) data on Friday.

* Elsewhere, some Bank of Japan policymakers called for speeding up the pace of rate hikes as underlying inflation reached the central bank's 2% target, a summary of opinions at its October meeting showed on Tuesday.

* Among other metals, spot silver slid 0.3% to $53.25 per ounce, platinum dipped 0.3% to $1,572.28 and palladium dropped 0.9% to $1,032.21.

DATA/EVENTS (GMT) 0800 China Total Social Financing, October 0800 China M2 Money Supply YY, October 0800 China New Yuan Loans, October 1330 US Core CPI MM, SA, October 1330 US Core CPI YY, NSA, October 1330 US CPI MM, SA, October 1330 US CPI YY, NSA, October 1330 US CPI Wage Earner, October N/A China Exports, Imports YY, October N/A China Trade Balance USD, October