Gold heads for monthly decline, US inflation data looms

Gold prices are on track to fall for the month, despite remaining stable on Wednesday. This decline is largely due to the anticipation of higher interest rates from the Federal Reserve, which makes gold less attractive to investors. The upcoming US inflation data will be crucial in determining the Fed's next move, and its impact on gold prices. If inflation is higher than expected, it could lead to even higher interest rates, further pressuring gold prices.

Why it matters

Gold prices are stable but poised for a monthly decline. Market participants are waiting for US inflation metrics to gauge the market.

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