Gold prices are stabilizing above $2,500, attempting to capitalize on support at $2,485, while awaiting key U.S. inflation data that could guide future momentum.
The upcoming Consumer Price Index and Producer Price Index are crucial as they influence market expectations regarding the Federal Reserve's interest rate cuts, impacting gold prices.
Despite minor gains, gold's bullish trend appears uncertain due to U.S. dollar strength and a narrow trading range, limiting predictions for strong price movements.
Any negative inflation data could lead to a boost in gold prices, particularly amid weakening investor confidence in the dollar, influencing market sentiment.
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