Gold declines ahead of US inflation data

Gold prices have been steadily declining, reaching their lowest level in over seven months at approximately $3,993 per ounce. This decline is associated with a strengthening dollar and expectations of up to three potential interest rate hikes by the U.S. Federal Reserve this year. The decrease is linked to rising inflation and investors' anticipation of a more aggressive policy stance from the Federal Reserve, which diminishes gold's appeal as a safe-haven asset. Meanwhile, other metals continue to fall, and the market is awaiting U.S. inflation data to determine the future trajectory of monetary policy.

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