US Data Sparks Drop in Gold Price
Gold prices declined after reaching their highest level in more than three months, as markets awaited upcoming U.S. inflation data and the Federal Reserve Chair's speech at the Jackson Hole symposium. Spot gold fell by 0.2% to around $1,640 an ounce, amid expectations that a weakening dollar and rising interest rates could limit its gains, while markets continue to monitor the Federal Reserve's statements to gauge the direction of interest rates. Other precious metals also decreased, with silver, platinum, and palladium falling.
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