Gold prices steady with spotlight on US inflation data
Gold prices held their ground on Monday, as investors awaited the U.S. inflation report for further clues on the potential size of the Federal Reserve's interest-rate cut.
Spot gold was little changed at $2,499.79 per ounce by 1:54 p.m. ET (1754 GMT).
U.S. gold futures settled 0.3% higher at $2,532.70.
Bullion hit a record high of $2,531.60 on Aug. 20.
Traders now see a 73% chance of a 25-basis-point cut at the Fed's meeting next week, and a 27% chance of a 50 bp reduction, according to the CME FedWatch tool, opens new tab.
The U.S. public's outlook for inflationary pressures was little changed last month, according to a report released on Monday by the New York Federal Reserve.
Spot silver rose 1.2% to $28.26 per ounce, platinum gained 2.3% to $942.45 and palladium was up more than 3% at $945.72.
Source: Reuters
