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Gold prices stabilized on Tuesday, September 14, as investors awaited key inflation data in the United States that may give indications of the Federal Reserve’s decision to reduce stimulus measures aimed at supporting the economic recovery from the pandemic.
There was little change in the price of gold in spot trading at $ 1791.09 an ounce by 05:14 GMT, while it fell in futures trading in the United States by 0.1% to $ 1792.40.
US inflation data is due at 12:30 GMT.
Economists expect core inflation, which excludes volatile energy and food prices, to rise by 0.3% in August compared to the previous month.
The data comes ahead of an important policy meeting of the Federal Reserve on September 21-22, as markets are closely watching the Fed’s announcement when it will begin to scale back its bond-buying program during the pandemic.
The dollar index stabilized after hitting its highest level in two weeks yesterday.
As for other precious metals, silver prices fell 0.3% to $23.65 an ounce, and platinum lost 0.3% of its price to reach $957.87, while palladium rose by about 0.6% to $2100.10 an ounce.
