Gold Prices Fall as Traders Await Fed Rate Cut Cues

Gold prices fell on Friday and headed for a weekly decline, while investors awaited further cues to gauge the size of a potential US interest rate cut in September. Spot gold was down 0.2% at $2,421.31 per ounce, after rising more than 1% on Thursday. Bullion was on track for its biggest weekly fall since June 7, and fell as much as 3% on Monday after investors liquidated positions in tandem with a broader equities selloff. US gold futures dipped 0.1% to $2,460.80. Investors' focus shifts to the US consumer price index (CPI) and producer price index (PPI) due next week for further insights into the Fed's policy path. Spot silver was up 0.3% at $27.66 per ounce, and platinum rose 0.7% to $937.65. Both metals were poised for weekly losses. Palladium gained 0.8% to $930.08 and was up 4.4% for the week. Source : Qatar News Agency