Gold lingers near one-week low ahead of US CPI data

As U. S. rate hike expectations firmed up, gold prices remained near a one-week low. The market is gearing up for the pivotal U. S.

consumer price index data set to be unveiled later today, heightening anticipation. Speculation swirls around a potential increase in borrowing costs by the Federal Reserve in its next meeting.

Additionally, the European Central Bank has raised rates to tackle inflation driven by energy.