Gold futures recovered from earlier losses an ounce as investors? awaited key US inflation data for insights into the Federal Reserve's monetary policy direction. The commodity has retreated nearly 5% from its April 12 record peak of $2448.80. Meanwhile, Gold trading volumes on Shanghai Futures Exchange have been soaring recently despite the massive record-breaking rally in the metal. The metal consolidates in a range as markets gear up for Friday?s US Personal Consumption Expenditure data.

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