Gold Prices Slide Ahead of US Inflation Data

Gold prices declined on Wednesday, snapping a three-session winning streak, as investors shifted their focus to US inflation data due later in the day. The figures could provide insight into the Federal Reserve's outlook on interest rates.

Spot gold dropped by 0.6 percent to $4,626.79 per ounce after reaching its highest level since mid-May on Tuesday. In contrast, other metals showed mixed results: spot silver rose by 0.2 percent to $68.75 per ounce, while platinum and palladium both increased in value.

The price of US gold futures fell by 0.2 percent to $4,683.60. This decline comes ahead of the release of US inflation data, which will be closely watched for its potential impact on interest rates.