Gold Prices Steady Ahead of Key US Inflation Data

Gold prices remained steady during early trading in Asian markets on Thursday as investors awaited key inflation data from the US. The market is watching for the upcoming release of U.S. Producer Price Index (PPI) and consumer price inflation data, which could influence the Federal Reserve's stance on interest rates. According to Reuters, most experts predict that the Fed will keep interest rates unchanged at its meeting scheduled for September 15-16.

The CME FedWatch tool indicates a 60 percent market probability of a U.S. interest rate hike this month. This could have implications for gold prices, as high interest rates typically diminish the appeal of non-yielding assets like gold.