Beirut: Gold prices fell 0.5% on Monday to $4,322.28 an ounce, retreating from a seven-week high reached in the previous session as investors took profits and awaited U.S. inflation data for clues on the outlook for interest rates.
According to National News Agency - Lebanon, the decline in gold prices comes as market participants are keenly observing upcoming economic indicators from the United States. Investors are particularly focused on the inflation data, which is expected to provide insights into the Federal Reserve's future monetary policy decisions. The recent rise in gold prices had been driven by safe-haven demand amid economic uncertainties, but the current pullback suggests a cautious approach by investors ahead of potential market-moving data.