Overview Gold (XAU) prices remain subdued as investors eagerly anticipate the forthcoming U.S. inflation data, which stands to greatly influence the Federal Reserve’s stance on interest rates. With U.S. gold futures pegged lower at $1949.20, the market’s attention is riveted to the release of the U.S. consumer price index (CPI) later today, with expectations hinting at a possible slight acceleration in inflation for July. The geopolitical landscape, especially the recent tensions exacerbated by U.S. President Joe Biden’s executive order limiting specific U.S. investments in China, serves as a foundational support for bullion in the volatile global economy.