Gold prices traded steady as investors remained torn over how fast the U.S Federal Reserve will taper its monetary stimulus and raise interest rates after the recent strong U.S. inflation data.

The bears continued to dominate and dragged the index lower as weak global cues impacted sentiment.

Gold prices rose on Wednesday as concern about inflation kept some investors on edge, while expectations that rising prices may prompt central banks to increase interest rates strengthened the dollar which capped bullion’s advance.

Markets traded volatile in a range and lost over half a percent, in continuation to a prevailing consolidation phase.

Gold prices rose to their highest level in more than five months as persistent concerns about inflation continued to give the yellow metal a boost even as the dollar strengthened.

Markets edged lower in a volatile session despite stable global cues.

Gold prices remained muted today, as investors assessed the Federal Reserve’s possible response to high inflation expectations; however a pullback in U.S. bond yields capped the losses.

Markets traded volatile and ended almost unchanged amid mixed cues.

Markets traded volatile in a range and finally settled with the gains of over a percent, in continuation to the prevailing consolidation phase.

Gold prices were trading soft in the morning but held near a five-month peak after a surge in U.S. consumer prices.