Gold Prices Eased Amid Market Focus on US Inflation Data

Gold prices have eased in recent days after hitting three-month highs due to market focus on upcoming US inflation data and a key speech from Fed Chair Kevin Warsh, according to Prithviraj Kothari, managing director at RiddiSiddhi Bullions Ltd., president of the India Bullion and Jewellers Association (IBJA).

Kothari notes that persistent dollar debasement fears, fueled by the Fed's unclear inflation stance, continue to support gold. Additionally, Iran has pledged retaliation against tightened US sanctions, expressing confidence its trading partners won't buckle under pressure.

The Treasury's move to double its bond buyback operations last week also drove up gold prices, which hit $4,696 (~Rs 164,700) and silver touched $69.96 (~Rs 248,800).