Gold prices fell today, Monday, as the dollar strengthened, while investors await U.S. inflation data and the Federal Reserve's interest rate decision. Spot gold decreased by 0.2%, while U.S. gold futures dropped by 0.3%.
The dollar index rose, making bullion less attractive to overseas buyers. Investors are now looking forward to the Consumer Price Index and the Producer Price Index data set to be released on Tuesday and Wednesday, respectively, as they will influence interest rate expectations.
The appeal of the non-yielding metal increases when interest rates decline.
Regarding other precious metals, spot silver fell by 0.7%, while platinum lost 0.6%. Palladium declined by 0.2% after recording its lowest levels since May 2019 on Friday.
