Gold prices end in green ahead of US inflation data

Gold prices finished in the green today, March 11, after snapping a three-session winning streak, during which they reached record levels, supported by expectations that central banks will stop tightening monetary policy soon.

Bullion for April delivery rose 0.15%, or $3.10, to end at the seventh consecutive record high of $2,188.60 per ounce.

Similarly, the US dollar index, which gauges the greenback's strength against a basket of six currencies, increased 0.15% to 102.85 points at 08:51 pm Mecca time.

"With large speculators having increased net-long exposure at their fastest weekly pace in 3.5 years last Tuesday, gold is clearly in demand and not a market too short for any length of time whilst traders expect Fed cuts," City Index Senior Analyst Matt Simpson said, Reuters reported.

Markets are awaiting the release of the US Consumer Price Index reading tomorrow, March 12, amid expectations that the monthly inflation rate will accelerate to 0.4% in February from 0.3% in the month before.