Gold prices retreated on tuesday after hitting their highest levels in more than three months earlier in the session:old prices retreated on Tuesday after hitting their highest levels in more than three months earlier in the session, as investors turned their attention to upcoming US inflation data and a speech by Federal Reserve Chair Kevin Warsh later this week. Gold prices showed a decline, with spot gold falling by 0.2% to $4,640.39 per ounce, while US gold futures steadied at $4,696.00.
According to Qatar News Agency, other metals also experienced declines. Spot silver dropped by 1.3% to $68.01 per ounce. Platinum saw a decline of 1.2%, bringing its price down to $1,853.85. Palladium slipped nearly 1%, with its price settling at $1,345.26.
Investors are keenly awaiting the US inflation data, which could provide insights into future monetary policy. The upcoming speech by Federal Reserve Chair Kevin Warsh is also anticipated to offer guidance on the economic outlook, potentially impacting market sentiment and influencing metal prices further.