Commodities
Gold Prices Dip Amid Wait for Key US Inflation Data
Gold prices eased on Wednesday after reaching a three-month high in the previous session. The metal's value dropped by 0.3% to $4,642.74 per ounce at 0410 GMT.
The decline comes as investors await key US inflation data, specifically the Personal Consumption Expenditures (PCE) price index for July, due out at 1230 GMT. This will give clues about the Federal Reserve's interest-rate path.
Financial markets strategist Wael Makarem said a softer-than-expected inflation reading combined with a dovish message from Fed Chairman Kevin Warsh would be supportive of gold prices. He added that renewed concerns about US fiscal sustainability could also boost gold demand.