Gold Prices Flat as Markets Await Inflation Data and Rate Hikes
Gold prices remained largely unchanged during early Asian hours on Thursday as investors awaited key inflation readings that could impact the US central bank's interest rate path.
The spot gold price held steady at $4,396.69 per ounce, while US gold futures for December delivery were down 0.4% at $4,440.80.
Market participants are keenly watching the upcoming release of US producer price index data and consumer inflation figures, which could influence the Federal Reserve's interest rate decisions.
The Fed has indicated that it will keep rates steady for the rest of the year, with a majority of economists in a Reuters poll predicting no hikes. However, markets are assigning a 60% probability of a US rate increase this month, according to the CME FedWatch Tool.