Gold Prices Decline Amidst Stronger Us Dollar

Gold prices are declining on Friday as the dollar strengthens. Investors are awaiting key U.S. inflation data to assess the Federal Reserve's monetary policy path. Spot gold fell by 0.6% to $3,296.07 per ounce. The U.S. dollar index rose by 0.32% to 99.596 against a basket of six major currencies. According to Julius Baer analyst Carsten Menke, the dollar's slight strengthening could weigh on precious metals. Investors are currently pricing in a 50 basis point rate cut by the Federal Reserve by the end of the year. The first cut is expected in October. A U.S. federal appeals court temporarily reinstated large-scale postings announced by President Donald Trump on Thursday. Palladium rose 0.4% to $969.25 per ounce, and silver increased 0.68% to $33.12 per ounce. Platinum fell 0.79% to $1,073.65.