Gold Price Drops Nearly 3% Following US Inflation Data
Share:
Gold prices fell nearly 3% on Tuesday, with spot gold reaching $4,151.86 per troy ounce by 3:10 PM Central European Time. The decline was triggered by the latest US inflation data, which showed inflation reaching its highest level since April 2023. The stronger-than-expected inflation figures affected global financial markets, with investors adjusting their positions in precious metals as they reassess expectations for US monetary policy.