Gold Prices Slip Amid Stronger Dollar and Awaits Key Inflation Data

The gold price dropped on Monday as the US dollar gained strength, weighing on bullion prices. Spot gold slid 0.2% to $4,335.27 per ounce by 09:33 a.m. EDT (1333 GMT), while US gold futures dipped 0.1% to $4,394.00.

According to Jim Wyckoff, a market analyst at American Gold Exchange, 'Gold is pressured by the firm dollar index and is kind of at a pause today ahead of key inflation report that is out later this week.'

The US dollar index gained 0.2%, making dollar-priced bullion more expensive for buyers overseas.

Investors are awaiting the release of US consumer price data on Wednesday and producer price data on Thursday, which could provide clues about the Federal Reserve's interest-rate outlook.