Gold prices fell on Tuesday as investors eyed key U.S. inflation data due later this week that could shed some light on the Federal Reserve’s stance on rate cuts. of interest.
Spot gold GOLD It fell 0.2%, to $2,327.52 per ounce, at 0339 GMT. US gold futures 
GOLD They fell 0.2%, to $2,339.90.
“Short-term technical factors are not very positive for gold. After last Friday’s sell-off, short-term traders see this as a bearish signal,” said Kelvin Wong, market analyst for Asia Pacific at OANDA.
Bullion fell more than 1% on Friday, while the dollar rebounded after US business activity reached its highest level in 26 months in June, amid a rebound in employment.
Estimates of the gross domestic product (GDP) for the first quarter will be published on Thursday and the personal consumption price index (PCE) on Friday.
Wong added that if the underlying PCE figure is strong, it might not be good news for gold and it could settle below the $2,300 level. (FEDWATCH)
Lower rates reduce the opportunity cost of holding non-yielding bullion.
San Francisco Fed President Mary Daly said Monday that she doesn’t think the U.S. central bank needs to cut rates before policymakers are confident inflation is heading toward 2%, but she also noted that the Rising unemployment is an increasing risk.
Other Fed officials speaking this week include Fed Governors Lisa Cook and Michelle Bowman, along with Richmond Fed President Tom Barkin.
On the other hand, spot silver 
XAGUSD1! fell 0.5%, to $29.47 per ounce, and platinum 
PL1! It advanced 0.5%, to $999.70.
The palladium 
XPDUSD1! It gained 1.5%, to $993.83, after reaching its highest level in a month on Friday.
