Gold prices are trading in today’s European session above 2360 levels.
Gold prices increased during Wednesday's European trading session, gaining support from a softened dollar as investors anticipated pivotal U.S. consumer inflation figures, which could impact interest rate projections.
The previous night saw gold making gains following comments from Federal Reserve Chair Jerome Powell suggesting that there's little likelihood of further U.S. interest rate hikes, a sentiment that contributed to the dollar's downtrend. All eyes are now on the forthcoming release of U.S. CPI data later today.