Gold Slides as Investors Await Inflation Data and Warsh Speech

Gold prices declined on Tuesday, dropping to $4,632.87 an ounce as investors await key economic data and speeches from US officials.

The yellow metal had surged last week after the US Treasury announced plans to double buybacks of longer-dated government debt, sparking concerns over fiscal policy and dollar purchasing power.

Markets are now looking ahead to Wednesday's release of the Bureau of Economic Analysis' core personal consumption expenditures price index, a key inflation metric closely watched by the Federal Reserve.

Fed Chair Kevin Warsh is set to speak at the Fed's annual Jackson Hole event on Friday, and his comments will be closely monitored for clues about monetary policy.