Gold dips from seven-week peak as US inflation data looms

Gold prices eased on Monday, August 10, retreating from a seven-week high touched earlier as investors locked in profits and awaited upcoming US inflation data that could influence the Federal Reserve's monetary policy outlook.

Spot gold fell 0.5% to $4,322.28 per troy ounce, while US gold futures dropped 0.4% to $4,381.60 per ounce.

Other precious metals also experienced a pullback. Silver traded lower following last week's sharp gains, hovering in the $63–$64 per ounce range.

Last week, bullion drew support from softer US Treasury yields and shifting market expectations regarding the Fed’s rate path. Market focus now shifts to the upcoming US Consumer Price Index (CPI) and Producer Price Index (PPI) reports.