Capping gold's advance, was a steady dollar and gains in Wall Street as investors pinned hopes on more stimulus and improving economic data even as global coronavirus cases continued to mount. However, Stephen Innes, chief market strategist at financial services firm AxiCorp said a lack of inflation posed a difficult question for the gold rally. "Given inflation is headed lower in both the short- and medium-term, gold needs (real bond) yields to continue to fall this year."