March 12 (Reuters) - Gold prices were steady on Tuesday,
as traders refrained from taking new positions after bullion's
record run ahead of U.S. consumer prices data that could offer
clues on the Federal Reserve's monetary policy trajectory. 

    FUNDAMENTALS
    * Spot gold        was flat at $2,182.48 per ounce, as of
0157 GMT, after rising for nine consecutive sessions. Bullion
hit a record peak of $2,194.99 on Friday.
    * U.S. gold futures         were also flat at $2,188.70. 
    * The dollar held broadly steady on Tuesday, while the yen
       firmed near a one-month high on mounting expectations
that the Bank of Japan could exit negative interest rates as
early as next week.       
    * The U.S. consumer price index (CPI) report for February,
due at 1230 GMT, is forecast to rise 0.4% for the month and keep
the annual pace steady at 3.1%. Core inflation is seen rising
0.3%, which will nudge the annual pace down to the lowest since
early 2021 at 3.7%. 
    * Other U.S. economic data this week includes retail sales,
producer price index, and weekly initial jobless claims print on
Thursday.
    * Data last week showed signs of a cooling U.S. jobs market,
while Fed Chair Powell said they are not far from gaining
confidence they need in falling inflation to cut interest rates.
    * Traders are pricing in three to four quarter-point (25
bps) U.S. rate cuts, with a 70% chance for the first in June, as
per LSEG's interest rate probability app.
    * Lower rates boost the appeal of non-yielding bullion.
    * Spot platinum        rose 0.5% to $937.60 per ounce,
palladium        climbed 0.3% to $1,033.35 and silver       
advanced 0.3% to $24.49.
    
DATA/EVENTS (GMT)
0700  Germany  HICP Final YY              Feb
0700  UK       Claimant Count Unem Chng   Feb
0700  UK       ILO Unemployment Rate      Jan
0700  UK       HMRC Payrolls Change       Feb
1230  US       Core CPI MM, SA; YY, NSA   Feb
1230  US       CPI MM, SA; YY, NSA        Feb
1230  US       CPI Wage Earner            Feb

 (Reporting by Harshit Verma in Bengaluru; Editing by Sherry
Jacob-Phillips)