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Forex

Gold Steadies Amid Anticipation for US Inflation Data and Rising Cryptocurrency Prices

Guavy AI Editorial Team
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USD AUD
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Gold prices steadied on Wednesday as investors await the release of US inflation data. The precious metal had reached its highest level since mid-May on Tuesday, with spot gold trading at $4,652.39 an ounce.

US gold futures rose 0.3% to $4,709.20, while other precious metals also advanced. Spot silver increased by 0.7%, platinum gained 0.6%, and palladium rose 1.4%.

The US dollar index remained steady at 98.918 in early Asian trading, ending a three-day winning streak on Tuesday. Meanwhile, the Australian dollar rose 0.1% to $0.7172 after data showed annualised trimmed-mean inflation of 3.6%.

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