Gold steadies near record $4,600/oz ahead of US inflation data

Spot gold remained close to last session's record near $4,600 per ounce as investors awaited U.S. Consumer Price Index data, while a senior Fed official said there was no near-term pressure to change policy.

Gold prices were largely steady near their all-time peak on Tuesday as markets awaited U.S. inflation data and responded to broader geopolitical tensions. Spot gold was trading below Monday's record close, while U.S. futures showed modest declines. A modest recovery in the U.S. dollar and comments from a senior Federal Reserve official limited immediate upside. Market infrastructure changes were also noted for precious metals margining. Market and policy points: - Spot gold was trading slightly below the prior session's record, near $4,586 per ounce, after a peak around $4,630. - Investors were awaiting the U.S. Consumer Price Index release, which market participants said would provide further clues on interest-rate expectations. - Federal Reserve Bank of New York President John Williams was reported as saying the central bank did not face near-term pressure to change its policy stance. - CME Group announced adjustments to how it sets margins for precious metals amid current market volatility, and other metals showed mixed moves (silver and platinum higher, palladium lower). Summary: Gold prices were steady close to recent record levels while markets awaited U.S. CPI data and evaluated recent Fed comments; geopolitical tensions were noted but specific operational details were not expanded in this report. The upcoming inflation release is the immediate market focus and could influence interest-rate expectations and precious metals' near-term direction. Undetermined at this time.