Market Awaits CPI Data as Gold and Bonds Edge Higher

Investors held their breath ahead of July's CPI release, with Gold and bonds ticking upward while equity futures showed muted movement. Dow futures gained 0.17%, while S&P 500 contracts slipped 0.35% - a tentative stance before inflation data that could dictate the Fed's next rate decision.

All eyes remain on the 12:30 GMT CPI print, expected to show 0.2% monthly growth and 2.8% annual inflation. The Core reading, stripping out volatile food and energy prices, may prove more consequential at projected 3.1% year-over-year - potentially validating the S&P 500's proximity to record highs if cooling trends emerge.

Gold recovered 0.2% to $3,349.13/oz after Monday's 1.6% plunge triggered by Trump's tariff pause on Chinese bullion imports. The market's non-reaction to extended trade policy suggests singular focus on inflationary signals.