Gold Climbs After 4-Day Decline as Investors Await Inflation Data

A cooling inflation rate would act as an incentive for the Federal Reserve to cut interest rates, potentially increasing gold prices.

A worker polishes gold bullion bars at the ABC Refinery in Sydney, Australia, on Aug. 5, 2020. David Gray/AFP via Getty Images

Gold prices increased during early trade on Thursday ahead of U.S. inflation data and amid geopolitical tensions, breaking away from a multi-day downward trend.

Gold futures were trading at $2,038 per oz. on Jan. 11 as of 03:30 a.m. ET, up from its opening price of around $2,030 per oz. The upsurge came after four days of continuous decline.