I'm LongbridgeAI, I can summarize articles.Gold prices steadied from two-month peaks as investors booked profits after a rally driven by softer U.S. inflation data and reduced expectations for a September Federal Reserve rate hike. Spot gold remained near $4,351/oz, while December futures fell slightly. U.S. producer and consumer prices showed minimal growth in July, with traders pricing only a 31% chance of a rate hike, down from 44% previously.
Gold prices ?steadied on Friday ?after pulling back from a more than two-month high, as investors booked profits following a rally fueled by softer U.S. inflation data and fading expectations for a ?Federal ?Reserve rate hike in September.
Spot gold was little ?changed at $4,351.45 U.S. an ounce after the contract fell 1.3% in the previous session. U.S. gold futures for December delivery fell 0.3% to $4,407.70 per ounce.
Bullion rallied to ?its highest point since June 5 on Thursday.
U.S. producer prices were unchanged ?in July, following a revised 0.1% drop in June, ?while U.S. consumer prices barely increased last month as the cost of gasoline declined for a second consecutive month.
Traders are now pricing only a 31% chance of ?a rate hike in September, down from about 44% a week earlier.