Gold remains near three-month high ahead of US inflation data

The gold price remained near its highest level in over three months, reaching $4,700 an ounce, ahead of the upcoming US inflation data due on Wednesday. Investors are looking for signals about the trajectory of interest rates in the United States, especially since recent producer and consumer price reports have diminished expectations of a rate hike. Meanwhile, Chinese investment demand and increased gold imports through Hong Kong have supported the precious metal, although gold typically tends to decline in a high-interest-rate environment.

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