Gold Prices Slide Ahead of Key US Inflation Data Release

Gold prices have retreated slightly on Wednesday, ending a three-session winning streak. The focus of investors has shifted to US inflation data due later today, which may provide insights into the Federal Reserve's stance on interest rates.

The spot price of gold fell by 0.6 percent to USD 4,626.79 per ounce. In contrast, US gold futures declined by a more modest 0.2 percent to USD 4,683.60.

Other metals did not follow the same trend, however. Spot silver rose by 0.2 percent to USD 68.75 per ounce, while platinum increased by 0.3 percent to USD 1,863.58. Palladium climbed by a notable 0.7 percent to USD 1,335.54.