Gold falls at settlement amid US monetary policy assessment

February gold futures fell 0.33% to $4,599.1 an ounce

Gold prices declined at Tuesday’s settlement following a volatile session as investors assessed US monetary policy prospects after the release of inflation data, while President Donald Trump continued his attacks on Federal Reserve leadership.

February gold futures fell 0.33%, or $15.4, to $4,599.1 an ounce, after closing at a record high the previous day.

Official data released on Tuesday showed US consumer price inflation holding steady at 2.7% in December, in line with expectations.

The data supported hopes that the Federal Reserve may continue to cut interest rates in 2026, particularly amid signs of a weakening labor market, despite expectations for rates to remain unchanged at the policy meeting scheduled later this month.

Separately, US President Donald Trump renewed his attacks on Fed Chair Jerome Powell following the data release, accusing him of corruption and incompetence in another attempt to pressure the central bank to implement deeper rate cuts.

The comments came after Powell, whose term as Fed chair ends in May, announced he had received a subpoena from the Department of Justice over testimony he gave to Congress last summer regarding the renovation expenses of the Fed’s headquarters.