Gold Prices Slip as Investors Await US Inflation Data

Gold prices declined on Monday as investors took profits after reaching a seven-week high in the previous session. The metal's price touched $4,322.28 per ounce, down 0.5% from the previous day.

The downward movement was attributed to investors awaiting U.S. inflation data, which is expected to provide fresh clues about the Federal Reserve's interest-rate path.

On Friday, gold prices reached their highest level since June 17 after weaker-than-expected U.S. jobs data was released. The data showed that the U.S. economy unexpectedly lost jobs in July, while previously reported employment figures for the previous two months were sharply revised downward.