Gold Retreats from Seven-Week High Ahead of U.S. Inflation Data
Gold prices fell on Monday, influenced by investors’ profit-taking after the metal recorded its highest level in seven weeks during the previous session, as markets awaited the release of U.S. inflation data to glean new
Translated by Qiyas from السياسة — Original source
Gold prices fell on Monday, influenced by investors’ profit-taking after the metal recorded its highest level in seven weeks during the previous session, as markets awaited the release of U.S. inflation data to glean new indicators on the Federal Reserve’s interest rate trajectory.
Spot gold fell 0.5 percent to $4,322.28 per ounce, after touching its highest level since June 17 on Friday, following the release of weaker-than-expected U.S. jobs data.
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U.S. gold futures also declined by 0.4 percent to $4,381.60.
Among other precious metals, spot silver fell 0.2 percent to $63.45 per ounce, platinum dropped 0.1 percent to $1,742.50, and palladium slid 1.1 percent to $1,362.97.
