Gold prices steady supported by declining inflation

Gold prices stabilized in Asia in the early hours of Monday morning, supported by data showing a decline in inflation in the United States, which raised hopes that the Federal Reserve (the US central bank) would begin lowering interest rates this year.

There was no significant change in gold in spot transactions and settled at $2,323.74 per ounce.

US gold futures fell 0.3% to $2,333.

Lower interest rates reduce the opportunity cost of holding non-yielding metal.