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Gold slips ahead of U.S. inflation report
Gold prices retreated today after reaching their highest level in over three months, as investors awaited the release of U.S. inflation data scheduled for today, which will determine future interest rate directions. Spot gold declined by 0.3%, reaching $1,642.74 per ounce, while U.S. futures rose slightly by 0.1% to $1,700.70. Investors expect the Federal Reserve to hold interest rates steady with a 61.6% probability, based on upcoming inflation data. Other precious metals also saw gains, with silver increasing by 0.9% to $69.26, platinum rising by 0.4% to $1,865.09, and palladium up by 1.3% to $1,343.75.
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