- Gold prices stabilized globally in early trading today, Wednesday, as investors awaited inflation data in the United States for hints about the size of the potential cut in US interest rates next week.
- Spot gold prices remained at $2,518.22 an ounce, while U.S. gold futures rose 0.2% to $2,547.10 an ounce.
- US consumer price index data is due later today, while producer price index readings and jobless claims data are due on Thursday.
- The CPI report is expected to show inflation rising close to the Fed's target of 2%, supporting Chairman Jerome Powell's view that price growth is under control and playing a pivotal role in determining the size of next week's interest rate cut.
