Gold Prices Steady as Investors Await US Economic Data

Gold prices held steady today, with investors awaiting key US inflation data due later this week to gauge the size of the Federal Reserve's likely interest rate cut in September 2024. Spot gold was little changed at $2,425.94 per ounce, and US gold futures slipped 0.3% to $2,464.80. The US producer price index (PPI) is due tomorrow (Tuesday), followed by consumer price index (CPI) after tomorrow (Wednesday). As for other precious metals, spot silver fell 0.6% to $27.29 per ounce, platinum edged 0.1% higher to $923.20, and palladium was nearly unchanged at $905.00. Source: Oman News Agency