Gold Remains Above $1220 on U.S. Rate Expectations

Gold retained gains from a five-day rally on Tuesday, trading near a three-month high as a recent string of sluggish U.S. economic data stoked speculation the Federal Reserve would not raise rates any time soon.

Spot gold had dipped slightly to $1,223.39 an ounce by 0030 GMT, but held near a three-month high of $1,232.20 reached in the previous session.

The metal had gained for five straight days to Monday after recent data on U.S. jobs market, retail sales and consumer sentiment pointed to weakness in the economy.