According to CoinMeta, gold price forecasts indicate that the target for XAU / USD is $4,500. As U.S. inflation data approaches, gold prices remain at a two-month high. On Tuesday, the spot gold price reached $4,434.84, setting a new high since June 5th. The market is watching CPI data and the Federal Reserve's expectations. If inflation data falls short of expectations, it could reduce the likelihood of further interest rate hikes by the Fed, thereby supporting gold prices. Conversely, if inflation data exceeds expectations, it may revive expectations for interest rate hikes, putting pressure on gold. Currently, gold prices are supported around $4,370, and a break above $4,485 would further drive prices towards the $4,500-$4,540 range.