Gold prices fell as investors awaited US inflation data

Gold prices fell on Tuesday, as investors awaited key US inflation data scheduled to be released this week, which may shed some light on the Federal Reserve’s position regarding lowering interest rates.

By 03:39 GMT, gold in instant transactions fell 0.2% to $2,327.52 per ounce. US gold futures fell 0.2% to $2,339.90, according to Reuters.

The yellow metal fell more than 1% on Friday, with the dollar jumping after business activities in the United States increased to the highest level in 26 months in June amid a recovery in employment.

US first-quarter GDP estimates are scheduled for Thursday, and the Personal Consumption Expenditures Price Index report is scheduled for Friday.