Gold prices drop as strong US dollar dims bullion's shine
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#0bb54c1b ver:1.02

Gold prices drop as strong US dollar dims bullion's shine. Investors await key US inflation data for clues on interest rate cuts. Traders skeptical of multiple rate cuts in 2024. Gold steadies in Asian trade, recouping some losses but remains below record highs. Cautious ahead of PCE data. Other precious metals rise slightly. Gold prices snap winning streak amid rebounding dollar and hawkish Fed remarks. US economic data diminishes rate cut expectations. Core PCE release on Friday could delay rate cut if inflation is stickier. Gold prices trade in negative territory, supported by firmer US dollar and higher yields. Investors monitor US GDP estimate and ongoing geopolitical tensions. Gold falls in Asian trade due to strength in dollar and Treasury yields. Anticipation of US economic readings and high interest rates unfavorable for gold. Other precious metals and copper prices also fall. Gold prices slip for second session as dollar strengthens. Traders pricing in rate cut by September. Investors await PCE data for monetary policy clues. Other precious metals also decline....

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