Gold slips as markets eye Fed outcome, CPI data

11-06-2024 11:56 AM

Ammon News - Gold prices fell on Tuesday with investors awaiting a key U.S. inflation reading and the Federal Reserve's policy announcement for cues on when the central bank will start cutting interest rates.

Spot gold was down 0.3% at $2,304.32 per ounce, as of 0800 GMT. U.S. gold futures fell 0.2% to $2,321.20.

The strong U.S. jobs data and reports that China's central bank was holding off gold purchases sent bullion tumbling about 3.5%, or $83, on Friday in its biggest daily drop since November 2020.


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