Gold Ticks Down Ahead of US Inflation Data and Fed Speech

Gold prices retreated slightly on Tuesday after reaching a more than three-month high, as investors awaited key economic data and Federal Reserve Chair Kevin Warsh's speech this week.

The yellow metal had advanced last week due to concerns over fiscal policy, dollar purchasing power, and the appeal of alternative stores of value. Treasury Secretary Scott Bessent has said he is prepared to expand buybacks of longer-dated debt, which revived the so-called debasement trade.

The core personal consumption expenditures price index will be released on Wednesday, one of the Fed's preferred inflation metrics. Warsh will then speak on Friday at the Fed's annual Jackson Hole event.