Gold prices remained near record highs as traders evaluated recent U.S. economic data and anticipated a crucial inflation report that could influence the Federal Reserve's interest rate decisions. The metal is on track for its second consecutive monthly gain, bolstered by expectations of potential rate cuts amid ongoing geopolitical uncertainties. The focus on the upcoming inflation data is expected to provide further clarity on the Fed's monetary policy direction, particularly as market sentiment shifts towards a rate-cutting cycle anticipated to begin next month.