Gold and dollar fall as oil fluctuates ahead of U.S. inflation data
Gold prices declined by 0.3% to reach $4,157.90 per ounce as investors await U.S. inflation data and Federal Reserve Chair's comments on interest rates. The dollar has eased from its 18-month highs, while oil prices remain mixed amid concerns over global supply. Other precious metals, such as silver, platinum, and palladium, also fell as currency markets are influenced by central bank policies and expectations of interest rate hikes. Markets continue to be concerned about the future of the U.S. economy, with growing odds of interest rates being held steady or increased, while the oil markets are reassessing the potential rise in Russian diesel exports and an improved global supply outlook.
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