Gold Trades in Tight Range Ahead of US Inflation Data.

Doha: Gold prices flitted within a narrow range on Wednesday as investors awaited key US inflation data for insights into the potential scale of a Federal Reserve rate cut next month. Spot gold was steady at $2,635.56 per ounce, moving largely within a slim $9 range during the session. US gold futures rose 0.6% to $2,635.80. According to Qatar News Agency, spot silver edged 0.1% lower to $30.39 per ounce, platinum was flat at $927.45, and palladium was down by 0.4% to $973.50. Investors across the globe are closely monitoring these figures as they anticipate the upcoming release of US inflation data, which is expected to offer critical insights into the Federal Reserve's monetary policy decisions. The data will play a crucial role in determining whether the Federal Reserve opts for a rate cut next month, influencing the trajectory of precious metal prices.