Gold flat as US inflation test looms

Gold prices remained unchanged during early trading in Asia as traders awaited crucial U.S. consumer price index (CPI) data that could impact the policy stance for the Federal Reserve (Fed). The bullion's appeal is dulled by rising interest rates, even though it is considered a hedge against inflation. The data comes as markets estimate an 83% probability of no rate hike by the central bank in June. The rates were discussed amid reports China's imports fell in April, while exports grew at a slower pace, highlighting weak domestic demand.

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