Gold prices dip as US inflation data looms

Gold prices fell on Monday early trade, as investors looked ahead to the upcoming US inflation report, which could influence expectations regarding the scale of a potential interest rate cut by the Federal Reserve.

Spot gold dropped by 0.44 per cent to at $2,486.41 per ounce by 6:30 GMT. While US gold futures fell 0.30 per cent to $2,516.70.

Key data releases this week include the US Consumer Price Index (CPI) for August, set for Wednesday, followed by the Producer Price Index (PPI) on Thursday.

Attribution: Amwal Al Ghad English, Reuters

Subediting: M. S. Salama