Gold Futures Edge Lower Ahead of Wednesday’s U.S. Inflation Data

Gold futures edged lower in rangebound trading Tuesday as traders reduced exposure ahead of Wednesday’s U.S. Consumer Price Index report and its potential effect on Federal Reserve interest-rate policy. Gold futures were down slightly at 5:50 p.m. ET (21:50 UTC), one day before the inflation data was due. The dollar and benchmark 10-year Treasury yields had also moved below their session highs. The CPI report could influence expectations for the Federal Reserve’s interest-rate policy and affect gold prices. Higher Treasury yields and a stronger dollar have recently pressured the metal, while a sustained retreat in both could provide support.

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