Gold Slides Amid Rate Hike Expectations

Gold prices remained steady in early trading as investors awaited fresh U.S. inflation data that could shape the Federal Reserve's next policy move.

The metal is on course for a monthly decline, with expectations of higher interest rates and a firmer dollar weighing on sentiment.

Spot gold held at $4,180.30 per ounce as of 0435 GMT, down 6% for the month, while U.S. gold futures climbed 0.8% to $4,212.70.

CME's FedWatch Tool showed traders assigning a 47% probability of a Fed rate increase in October and a 92% chance in December after this month's 25 basis point hike.