Gold steady ahead of key US inflation data

Gold prices were broadly steady on Thursday, supported by dovish signals from the Federal Reserve but capped by a resilient dollar ahead of key US inflation data, while silver hovered near record highs.
Spot gold slipped 0.2% to $4,333.12 an ounce by 0652 GMT after rising more than 1% late on Wednesday.
US gold futures eased 0.2% to $4,363.60.
The dollar index held on to earlier gains after touching a nearly one-week high in the previous session, limiting upside for dollar-priced bullion.
Spot silver rose 0.1% to $66.36 an ounce after hitting a record high of $66.88 on Wednesday.
Silver is up about 130% year to date, outpacing gold’s roughly 65% gain, supported by strong industrial demand and tightening inventories.
Some analysts expect silver to test the $70-per-ounce level next year if US interest rate cuts continue.
Fed Governor Christopher Waller said the central bank still has room to cut rates amid a cooling labour market and would defend its independence if challenged.
Data this week showed the US unemployment rate rose to 4.6% in November, the highest since September 2021.
The Fed delivered its third and final quarter-point rate cut of the year last week, with markets pricing in two additional 25-basis-point cuts in 2026.
Investors are awaiting the US Consumer Price Index later on Thursday and the Personal Consumption Expenditures price index on Friday.
Platinum rose sharply today.
— Reuters