Gold dips ahead of US inflation data

Gold prices moved lower in early trading ahead of the release of US inflation data, with spot gold giving back part of the previous session’s gains.

Spot gold retreats after earlier advance

Spot gold fell 0.3% to $4,128.48 per ounce by 0024 GMT. The decline followed a gain of more than 1% in the previous session, when softer oil prices supported the metal.

The latest move places the precious metals market in focus ahead of the US inflation figures, which investors will monitor for further direction. The supplied market data does not provide details on the expected inflation reading or its potential policy implications.

US gold futures move higher

While spot gold declined, US gold futures for December delivery rose 0.6% to $4,137.60. The differing moves reflected the performance of the physical and futures markets during the reported trading period.

Gold’s next market focus is the upcoming US inflation data, following the recent price movement driven in part by softer oil prices.