Gold Heads for Monthly Decline Ahead of Inflation Data
Gold prices firmed on Wednesday but remained on track for a monthly loss as investors awaited US inflation data. Expectations of higher interest rates continued to weigh heavily on market sentiment.
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Gold rose 0.4% to $4,195.56 per ounce on Wednesday morning, heading for a monthly decline of over 5%. The drop reflects mounting investor expectations for higher interest rates across the United States. Markets are now bracing for crucial inflation data to determine the Federal Reserve's next policy trajectory.
