Gold prices are holding steady around $5,200 per ounce as traders wait for US inflation data to guid

Gold Holds Near $5,200 as Markets Weigh Middle East Risks—ETF Outflows Persist

Gold is treading water. Prices dipped slightly in early trade but stayed near $5,200 an ounce as investors sift through conflicting signals from the Middle East. The metal got a boost in the prior session from a weaker dollar and falling oil prices, which took some heat off inflation fears.

But ANZ analysts caution that the bigger picture hasn't changed: the rate-cut outlook remains murky, and investors are still pulling money from gold ETFs. All eyes now turn to today's U.S. inflation print for the next clue on where rates—and gold—are headed.