Gold Hovers Near $2,500 as Inflation Figures Set to Guide Fed Decision

Gold prices are holding steady around $2,500 an ounce as investors await key US inflation data that could influence the Federal Reserve’s decision on interest rate cuts. The precious metal has seen a significant 20% surge this year, driven by central bank purchases and expectations of rate cuts. Upcoming consumer and producer price index figures will be crucial in determining the Fed’s next move, with lower inflation potentially encouraging a larger rate cut. Gold’s appeal as a non-interest bearing asset and safe-haven investment continues to support its value amid global conflicts and economic uncertainty.