Gold Prices Unchanged Ahead of Crucial US Inflation Data Releases

Gold prices remained stable in early Asian trading on September 10th as investors awaited key US inflation data that could influence the Federal Reserve's interest rate decisions. The spot gold price was nearly flat at $4,396.69 per ounce, while US gold futures for December delivery slipped by 0.4 percent to $4,440.80 per ounce.

The release of US producer price index data later in the day and consumer price inflation figures on Friday are being closely watched by market participants. The CME's FedWatch tool indicates a 60 percent probability of a US interest rate hike this month.

Higher interest rates typically reduce the appeal of non-yielding assets such as gold, which makes it susceptible to fluctuations in interest rates. Meanwhile, the European Central Bank is expected to raise its interest rates for the second time this year today to combat an inflation surge driven by higher energy prices.