Gold dips as US inflation data nears
Gold prices have declined to settle around $4,374.82 per ounce, after reaching a two-month high of $4,434.84. Investors are awaiting the US inflation data that will guide the future direction of interest rates. Gold prices temporarily strengthened due to strong inflows and a shift in market sentiment, while other precious metals such as silver and platinum experienced declines. The market is closely watching the upcoming US inflation figures, which will influence the Federal Reserve's decision on interest rate hikes. Data indicates that the rise in gold was systematic, driven by expectations of rising inflation and market volatility.
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