Gold prices were flat to slightly higher on Wednesday amid optimism that the Federal Reserve is nearing the end of its rate-hiking cycle.
Spot gold edged up 0.1 percent to $1,934.82 per barrel, while WTI crude futures were up 0.2 percent at $74.99.
Bond yields slipped and the dollar hit a two-month low against rivals ahead of U.S. inflation data, expected to show moderation in price pressures.
The annual rate of growth in consumer prices is expected to slow to 3.1 percent in June from 4.0 percent in May, while the annual rate of core consumer price growth is expected to slip to 5.0 percent in June from 5.3 percent in May.
The consumer price data is likely to have a significant impact on the outlook for interest rates ahead of the next Federal Reserve meeting later this month.
Currently, traders expect the Fed to raise interest rates by 25 basis points at its July 25-26 meeting, with another increase possible by year-end.
Investor attention will also be on the policy decision from the Bank of Canada later in the day, with analysts expecting a second consecutive quarter-point interest rate hike.
