PRECIOUS-Gold holds steady as markets await U.S. inflation data – Investing.com India

PRECIOUS-Gold holds steady as markets await U.S. inflation data – Investing.com India

* U.S. inflation data for March due later in day* U.S. consumers raise inflation outlook - NY Fed survey (Adds comments; updates prices)By Diptendu LahiriApril 13 (Reuters) - Gold prices were flat on Tuesday as market participants kept to the sidelines ahead of U.S. inflation data that is expected to shed more light on recovery in the world's largest economy.Spot gold was unchanged at $1,731.69 per ounce by 0354 GMT, with elevated U.S. Treasury yields negating support from expectations of higher inflation. U.S. GCv1 were also steady at $1,732.80 per ounce."Gold is being supported by expectations of higher inflation numbers from the data later in the day," said Stephen Innes, chief global market strategist at financial services firm Axi.A survey released on Monday by the Federal Reserve Bank of New York showed U.S. consumers raised their inflation expectations again in March after gradual increases in recent months, and became more positive about the job market. hard to imagine that gold will not gain today if the data shows higher inflation, but there is a big chance of it pulling back later this week if retail sales data comes positive on Thursday," Innes said.The U.S. economy may see a