Gold drops after two-month peak
Gold prices temporarily declined after reaching their highest level in over two months, with spot prices at $4,374.82 per ounce, having previously surpassed $4,400. This pullback reflects investors' anticipation of upcoming U.S. inflation data, which could influence expectations for U.S. interest rate hikes. Markets expect the Federal Reserve to halt rate increases if employment and inflation data show signs of slowing, thereby supporting higher gold prices, which are considered a safe haven amid global political and economic tensions.
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