Gold prices extended gains on Tuesday after U.S. inflation data came in slightly weaker than expected, giving investors faint hope that the Federal Reserve would continue on its rate-easing path this year,

The US Bureau of Labor Statistics (BLS) revealed that the Producer Price Index (PPI) increased but missed estimates for a higher print. This exacerbated Gold's jump as traders grew optimistic that if the Consumer Price Index (CPI) report on Wednesday comes cooler than foreseen, it could increase the Fed's chances of easing policy during the year.

Gold prices trade higher ahead of US CPI data. It hit an intraday high of $2685 and currently trading around $2683. Anticipated US CPI Release The US Consumer Price Index for December 2024 is going to be announced,

Gold prices edged higher on Wednesday as investors waited for the U.S. consumer price inflation report that could provide more clarity on the Federal Reserve's interest rate trajectory. Spot gold rose 0.