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Gold prices headed during trading, today, Wednesday, near the highest level in two weeks during the previous session, before the release of inflation data in the United States, which is expected to come in strong this week, despite the fact that the rise in US Treasury bond yields prompted investors to anticipate the gains of gold bullion.
Spot gold rose 0.1% to $1,827.37 an ounce, settling near the previous session’s high of $1,828.68, its highest since Jan. 26, and US gold futures rose 0.1% to $1,829.10.
Gold prices have remained in limited trading since the beginning of this year, to remain stuck between concerns about high inflation rates and the increasing expectations of raising interest rates by the Federal Reserve.
US inflation data for January is due to be released next Thursday, with expectations pointing to an annual increase of 7.3% after strong employment data last week boosted expectations of faster monetary policy tightening by the US Federal Reserve.
