Gold Prices Inch Lower as US Inflation Data Looms

Gold prices edged lower on Wednesday as investors remained on the sidelines ahead of a key US inflation print later in the day that could set the tone for the Federal Reserve's September policy meeting. Spot gold eased 0.2% to $2,460.87 per ounce. Prices hit a record high of $2,483.60 last month. US gold futures edged 0.3% lower to $2,500.30. US consumer price index data for July is due afternoon today and expected to show month-on-month inflation accelerated to 0.2%, with the annual core slowing a tick to 3.2%. Retail sales data is scheduled for Thursday. Spot silver fell 0.6% to $27.68, platinum shed 0.5% to $931.73. Palladium edged 0.1% higher to $939.25 after hitting its highest level since July 24 in the previous session. Source: Qatar News Agency