Gold slips as investors await US inflation data

February gold futures dropped 0.45% to $4,212.3 an ounce.

Gold prices fell on Thursday as investors awaited Friday’s US inflation reading ahead of next week’s Federal Reserve meeting.

February gold futures dropped 0.45%, or $20.2, to $4,212.3 an ounce.

Spot gold fell 0.5% to $4,185.3 an ounce, while spot silver slid 2.1% to $57.26 an ounce.

The dollar index, which measures the greenback against six major peers, rose 0.15% to 99 points at 09:14 a.m. Mecca time.

March silver futures shed 1.4% to $57.81 an ounce. Spot palladium fell 1.5% to $1,443.18, and spot platinum dropped 1.6% to $1,645.83.

Investors are awaiting Friday’s release of the personal consumption expenditures (PCE) index, the Fed’s preferred inflation gauge, for September, with markets expecting a rate cut at next week’s Fed meeting.