09:08 AM EDT, 05/13/2025 (MT Newswires) -- Gold prices rose early on Tuesday, moving higher while the dollar dropped off a month high as U.S. inflation slowed last month.

Gold for June delivery was last seen up US$19.10 to US$3,247.10 per ounce.

The rise comes as U.S. consumer prices eased in April. The U.S. Bureau of Labor Statistics reported the April Consumer Price Index (CPI) rose at a 3.2% annualized pace last month, down from 3.3% in March, but above the 3.1% consensus forecast among analysts polled by FactSet.

Core CPI, excluding volatile food and energy prices, rose 2.8% annualized in April, unchanged from the prior month and matching expectations.

The dollar fell following the data after rising on Monday to the highest in a month after China and the United States agreed to lower punishing tariffs on each other's exports that nearly halted all trade between the world's two largest economies as they negotiate a broad trade agreement. The ICE dollar index was last seen down 0.35 points to 101.44.

Treasury yields were also lower, with the U.S. two-year note last seen paying 3.988%, down 4.7 basis points, while the yield on the 10-year note was down 1.2 points to 4.463%.