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Gold steady as the market eyes U.S. inflation data
Gold prices held steady on Tuesday as investors remained cautious ahead of U.S. inflation data due later in the week, which could provide more insights into the Federal Reserve’s policy path. Spot gold rose less than 0.1% to $2,029.06 per ounce after hitting its lowest level in over three weeks on Monday. U.S. gold futures also rose than 0.1% to $2,035.3 per ounce. If inflation numbers offer an upside surprise, then the Fed may not be able to cut interest rates soon, which will bring in a bearish element for the gold and silver markets, said Jim Wyckoff, senior analyst at Kitco Metals. Investor attention will now ... (full story)