Gold subdued with spotlight on US inflation data

Oct 13 (Reuters) - Gold prices were subdued on Tuesday, with market focus on upcoming US inflation prints for fresh signals on the Federal Reserve's interest-rate trajectory.

FUNDAMENTALS

* Spot gold was down 0.2% at $4,161.81 per ounce by 0015 GMT after hitting a one-week peak in the previous session.

* US gold futures for December delivery fell 0.1% at $4,186.60.

* The US dollar lingered near an 18-month high, making dollar-denominated metals more expensive for holders of other currencies. USD/

* Markets are awaiting the Consumer Price Index (CPI) due on Wednesday and the Producer Price Index (PPI) report scheduled for release on Thursday.

* Cleveland Fed President Beth Hammack said the US central bank should move "relatively quickly" to a restrictive monetary policy stance in order to control inflation she feels has become more broad-based and is starting to influence firms' price-setting plans.

* The Fed is widely expected to keep rates on hold this month, but markets assign an 88% likelihood of a rate hike in December, according to CME's FedWatch tool.

* When interest rates are elevated, investors typically gravitate toward yield-bearing assets rather than gold.

* On the geopolitical front, Saudi Arabia said it was facing a new barrage of incoming fire and that Riyadh airport would remain shut for now, days after Saturday's deadly missile strike on a departure terminal that was claimed by Yemen's Iran-allied Houthis.

* Among other metals, spot silver eased 0.4% to $60.09, platinum was down 0.3% to $1,680.95 and palladium fell 0.7% to $1,135.70.