Gold steadies at $4,165.25 as markets await US inflation
Business
Gold prices barely budged on Wednesday, with spot gold at $4,165.25 per ounce and December futures ticking up 0.3%.
According to Ilya Spivak, head of global macro at Tastylive, gold's calm, even as oil prices climb, could mean it's holding strong.
All eyes are now on the upcoming US inflation numbers, which could shake things up for the Federal Reserve.
US CPI, Aramco attack cloud markets
The US Consumer Price Index drops later today, followed by more economic data this week, all of which will influence whether the Fed hikes interest rates soon (there's a bigger chance in December than this month).
Meanwhile, ongoing conflicts like the recent attack on a Saudi Aramco site are adding uncertainty to oil markets, making things even more unpredictable for investors.