Gold prices firmed on Wednesday as investors stayed cautious amid lingering uncertainty over the U.S.-China trade truce and waited for key U.S. inflation data for clues on the Federal Reserve's interest rate trajectory.

Inflation moved up in May as Trump's tariffs threatened to filter into consumer prices, CPI report shows. Gasoline prices declined for fourth month

The CPI gives the latest update on consumer inflation, President Trump’s trade team is back from talks with China and Tesla CEO Elon Musk sets the stage for the debut of the long awaited robotaxis.

The U.S. dollar slid on Wednesday after data showed inflation in the world's largest economy rose less than expected last month, suggesting that the Federal Reserve could resume cutting interest rates sooner rather than later.

This week will bring consumer-price index and producer-price index data from May, providing new readings on inflation and how prices have changed as a result of tariff policies. Meanwhile, Apple is hosting its annual Worldwide Developers Conference,

The U.S. Treasury held a closely eyed $22 billion auction of 30-year bonds, and solid demand showed investors are still hungry for long-term government debt, despite policy uncertainty.

Gold prices rose on Wednesday, helped by cooler-than-expected U.S. inflation numbers, strengthening investor expectations that the Federal Reserve would start cutting interest rates by September.