Gold prices were mostly unchanged in early Asian trading on Thursday as investors waited for key U.S. jobs data scheduled for Friday, which could provide more clues about the future direction of interest rates.
Spot gold held steady at $4,146.66 per ounce, while U.S. gold futures for December delivery slipped 0.3% to $4,177 per ounce.
Market sentiment was supported by inflation data released on Wednesday, which showed that U.S. inflation increased less than expected in August. The report eased concerns about another Federal Reserve rate hike in October and helped keep gold prices stable.
Other precious metals moved lower. Silver fell 0.4% to $60.17 per ounce, platinum edged down 0.1% to $1,704.95, and palladium dropped 0.4% to $1,200.85 per ounce.
Traders are now focused on Friday’s employment report, which could play an important role in shaping expectations for future Federal Reserve policy decisions.
