Gold Prices Steady Ahead of Key Inflation Report
Gold prices have stabilized around $4,650 an ounce on Wednesday as investors await the latest US PCE price index report.
The Federal Reserve's preferred measure of inflation is expected to provide valuable insights into the state of the economy.
In a related development, Fed Chair Kevin Warsh will deliver a speech at the annual Jackson Hole symposium on Friday, although he is not expected to offer clear guidance on the central bank's policy decision in September.
Meanwhile, the US Treasury has doubled its liquidity-support buyback operations for longer-dated notes and bonds, which helped push the dollar to a more than three-month low last week.
Oil prices have fallen for a third consecutive session, easing inflation concerns and bolstering the bullish outlook for gold.