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Gold on track for monthly decline as investors brace for US inflation data
Gold prices steadied on Wednesday but were headed for a monthly loss as expectations of higher interest rates weighed on sentiment, while investors awaited US inflation data for clues on the Federal Reserve’s next policy move. Spot gold was little changed at $4,180.30 per ounce, as of 0435 GMT, but has lost 6% so far this month. US gold futures gained 0.8% to $4,212.70. The dollar was headed for a monthly gain, making greenback-denominated metals more expensive for holders of other currencies. The US personal consumption expenditures price index is due at 1230 GMT. “The PCE data release will b...
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