Gold Prices Fall Amid Expectations of Higher Interest Rates

Gold prices have been falling and are on track for a monthly decline as investors await US inflation data, which is expected to provide clues about the Federal Reserve's next policy move. The expectation of higher interest rates has weighed heavily on sentiment.

Silver prices have also been impacted by this trend, with spot gold down 0.2% at $4,170.63 per ounce as of 0150 GMT. This represents a loss of more than 6% so far this month.

The release of the US inflation data is expected to provide key insights into the Federal Reserve's upcoming decision on interest rates.