"Gold Prices Await US Inflation Data for Potential Upside Breakout"

Gold prices held steady as investors awaited key U.S. inflation data, with spot gold up 0.5% at $2,189.89 per ounce and U.S. gold futures settling 0.6% higher at $2,212.7. The U.S. Core Personal Consumption Expenditures Price Index (PCE) data for February is due on Friday, and traders see a 70% chance of a June rate cut from the Fed. Gold imports by India are set to plunge by more than 90% in March from the previous month, while central banks continue to report ongoing gold purchases to diversify their currency reserves.