Gold prices drop ahead of US inflation data

Gold prices declined in early trading on Monday, while investors awaited inflation data and comments from Federal Reserve officials for further cues.

Spot gold prices dropped at 6:43 GMT by 0.40 per cent to $2,642.78 per ounce, compared to weekend’s closing price of $2,653.52. While, US gold futures fell 0.21 per cent to $2,662.15, compared to Friday’s closing of $2,667.8.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama