Gold Prices Fall 0.6% Amid Anticipation of US Inflation Data
Gold prices dipped on Wednesday, following a surge to a three-month high the previous day. The metal fell 0.6% to $4,626.79 per ounce by 0625 GMT as investors awaited key US inflation data.
The release of the US Personal Consumption Expenditures (PCE) price index for July is scheduled for 1230 GMT and will give insight into the Federal Reserve's interest-rate path.
Market analysts are also keeping an eye on Fed Chairman Kevin Warsh's speech at the central bank's Jackson Hole symposium on Friday, which could influence gold prices further.