Gold futures were rising 0.3% to $2,725.60 a troy ounce ahead of the release of key U.S. economic data. Investors are positioning themselves ahead of Wednesday's release of Consumer Price Index data,

Gold prices traded mostly flat on Wednesday as investors looked forward to a critical U.S. inflation print that could influence chances of a widely expected Federal Reserve's interest rate cut next week and offer more cues on their 2025 outlook.

Gold prices edged higher for a fifth consecutive session, nearing a two-week high, boosted by expectations of a Fed rate cut next week. U.S. inflation data met forecasts, reinforcing the likelihood of a third rate reduction.