Gold Prices Climb Ahead of U.S. Inflation Data Release

The price of gold increased today as investors await crucial inflation data from the United States. The data, expected later today, might provide further insights into future interest rate directions.

Gold in the spot market rose 0.3% to $4138.52 per ounce by 0120 GMT. However, the precious metal is on track for its worst week since May, having fallen approximately 2.7% since the beginning of the week.

U.S. gold futures for December delivery increased by 0.2% to $4152.30 per ounce.

In other precious metals, silver edged down 0.3% to $48.76 per ounce. Meanwhile, platinum gained 0.6%, reaching $1635.59, and palladium decreased by 0.3% to $1453.16.