Gold prices held firm above the $2,500 mark on Tuesday as investors await key U.S. inflation data, which could provide insights into future interest rate cuts by the Federal Reserve. Spot gold increased by 0.2%, reaching $2,509.22 per ounce, while U.S. gold futures rose to $2,538.30. Analysts highlight that gold is trading within a narrow range ahead of the U.S. presidential debate and inflation reports. August’s Consumer Price Index (CPI), expected to rise by 0.2%, will be closely monitored for market reactions. Gold has surged 21% in 2024, hitting a record high in August.
Silver prices fell slightly, while platinum and palladium saw gains, with platinum’s global deficit expected to double in 2024.
