Gold Holds Steady Near $2,465 as Investors Eye CPI Report Gold prices are showing modest gains, trading near $2,465 in early Asian trading on Wednesday. The precious metal’s upward movement is supported by safe-haven demand due to ongoing tensions in the Middle East, particularly following the US deployment of a guided missile submarine to the region. Investors are closely monitoring geopolitical risks involving Iran, Israel, and Ukraine, as well as anticipating potential Federal Reserve rate cuts. The upcoming release of the US July Consumer Price Index (CPI) later on Wednesday is expected to provide crucial insights into the Fed’s future interest rate decisions. A softer inflation reading could increase the likelihood of a rate cut in September, potentially boosting gold prices, while higher-than-expected inflation might reduce the chances of monetary easing and put pressure on the non-yielding asset. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Banks Under Pressure: Rising Concerns Over Commercial Real Estate Exposures READ MORE Federal Reserve Shows Little Urgency to Cut Interest Rates READ MORE Shelter and Services Costs Key Focus in Upcoming May CPI Report READ MORE UBS Analysts: Gold Market Not Overextended Despite Record Prices READ MORE Gold's Long-Term Strength Predicted to Persist READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment