Gold Holds Steady Ahead of Key US Inflation Data

Gold prices remained steady in early Asian trade on Wednesday as investors awaited key US inflation data for clues on the Federal Reserve's interest-rate path.

The spot gold price was almost flat at $4,654.17 per ounce, while US gold futures rose 0.4% to $4,711.40.

The Fed's preferred inflation gauge, the U.S. Personal Consumption Expenditures (PCE) price index for July, is due at 1230 GMT.

Traders are pricing in a 60.4% chance that the Fed will leave rates unchanged next month, according to the CME FedWatch Tool.