Gold prices decline as investors await U.S. economic data and Fed insights
Gold prices continued to decline on Monday, falling 0.5% to $2,669.22 per ounce. This marks the second consecutive session of losses as investors await U.S. economic data and comments from Federal Reserve officials regarding interest rates. The recent drop follows a challenging week for gold, influenced by Donald Trump's election victory, which raised concerns about higher tariffs and sustained interest rates. Traders are now assessing the likelihood of a rate cut in December, with a 65% chance of a 25-basis-point reduction. In other precious metals, silver decreased by 0.4% to $31.17 per ounce, while platinum and palladium saw slight increases. China's consumer prices rose at their slowest rate in four months, adding to global economic concerns.