Gold Prices Waver as Markets Await Inflation and Fed Signals

Gold prices remained constrained within a narrow range, marking a potential second consecutive week of decline, amidst market anticipation of further insights on U.S. interest rates. Investors are keenly focusing on upcoming key inflation data and the Federal Reserve meeting. Contrastingly, copper prices are on track for a robust weekly performance, buoyed by China’s latest stimulus measures that bolstered demand prospects for the metal. The improvement in risk appetite, spurred by China’s economic actions and record highs on Wall Street, has somewhat weakened gold’s appeal. Additionally, a strengthening dollar, following better-than-expected gross domestic product data, has applied pressure on gold, maintaining its price within a $2,000- $2,050 range.