Gold prices flat, focus on US inflation print
Gold prices barely moved on Wednesday, as attention shifted to a key U.S. inflation print due later in the day, which could shed more light on the Federal Reserve's monetary policy path.
FUNDAMENTALS
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-115235943»> * Spot gold was flat at $2,599.19 per ounce by 0021 GMT, after hitting its lowest since Sept. 20 in the previous session. U.S. gold futures steadied at $2,605.10.
* The U.S. dollar traded near a 6-1/2-month high amid expectations of inflationary import tariffs from Republican President-elect Donald Trump. A firmer dollar makes greenback priced-bullion more expensive for other currency holders.
* Markets have been scaling back odds for more rate cuts from the Fed, currently pricing in a 60.4% chance of a 25-basis-point cut at its December meeting, down from 77.3% a week ago, according to CME's FedWatch Tool.
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