Gold Prices Steady as U.S. CPI Holds Firm

Gold prices remain near session lows as the U.S. Consumer Price Index (CPI) rose 0.6% last month, in line with expectations, but increased 3.7% in the last 12 months, slightly higher than anticipated. The report also showed that core CPI, which excludes volatile food and energy prices, rose 0.3% in August. While the gold market is struggling, there has not been a significant selloff in response to the data. Market analysts suggest that the latest inflation numbers are prompting markets to price in further rate hikes, and the Federal Reserve may start preparing for a rate increase at its November meeting. However, some economists believe there is little in the latest inflation data to force the Fed to maintain its aggressive monetary policies.