Gold holds steady as investors focus on US inflation data

On the geopolitical front, Iran said it had restarted talks with neighbour Oman to manage the Strait of Hormuz, sending oil prices lower. O/R

The global economy has weathered the Iran war energy shock better than feared, International Monetary Fund Managing Director Kristalina Georgieva said. However, she raised concerns about deteriorating fiscal conditions in some countries.

In other metals, spot silver XAG= gained 0.7% to $69.09, platinum XPT= rose 0.6% to $1,869.22 and palladium XPD= firmed 1.4% to $1,345.30.

Gold held steady on Wednesday after scaling a more than three-month high in the previous session, as investors awaited a key U.S. inflation report to gauge the Federal Reserve's interest-rate path.

Spot gold XAU= was little changed at $4,652.39 per ounce, as of 0150 GMT. Prices climbed to their highest since mid-May on Tuesday after last week's sharp gains following the U.S. Treasury's bond buyback announcement. U.S. gold futures GCcv1 were up 0.3% at $4,709.20.

The Fed's preferred inflation gauge, the U.S. Personal Consumption Expenditures (PCE) price index for July, is due at 1230 GMT. Attention is also on Fed Chairman Kevin Warsh's speech on Friday at the central bank's Jackson Hole symposium.