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Gold subdued as traders ready for US inflation data
Gold inched lower on Monday as the market focus shifted to U.S. inflation data due this week which could influence the timeline of Federal Reserve interest rate cuts. Spot gold edged 0.5% to $2,025.91 ounce at 10:20 a.m. ET (1520 GMT). U.S. gold futures dropped 0.6% to $2,036.60. The U.S. personal consumption expenditure (PCE) price index, the Fed's preferred measure of inflation, is due on Thursday, with a 0.4% rise forecast on a monthly basis. "If the PCE data comes a little warmer then it will be bearish for the metals, but gold will maintain the $2,000 range. For it to push below that, economic data this week ... (full story)