ELIZABETH VARGHESE

Gold prices tumbled 1.5% to $2,354.59 per ounce, retreating from Friday's peak, the highest since May. U.S. gold futures mirrored the decline. This drop comes as markets increasingly anticipate the Federal Reserve cutting interest rates in September...

Gold prices steadied as investors awaited U.S. economic data for clues on Federal Reserve's monetary policy easing. Spot gold stood at $2,326.86 per ounce and U.S. gold futures at $2,347.40.

Gold prices hold steady amidst Middle East tensions and safe-haven demand. Federal Reserve remains cautious on interest rates. Israeli tanks re-enter Gaza. Barrick Gold reports lower production. Silver, platinum, and palladium prices fluctuate.

Spot gold was up 0.6% at $2,386.38 per ounce, as of 0111 GMT. Bullion hit a record high of 2,389.29 earlier in the session.

"If the CPI figures exceed market expectations, perhaps forcing the Fed to delay its policy pivot, that could force bullion to relinquish more of its gains from the final quarter of 2023," said Han Tan, chief market analyst at Exinity Group.

"The gold market will continue to mirror what the expectations from the Fed are," said Everett Millman, chief market analyst at Gainesville Coins.

The Wall Street bank cut its Brent price outlook for the third quarter this year to $75 from $77.50 per barrel and lowered its fourth quarter forecast to $70 from $75. It also cut its forecasts for 2024 by $5, and now sees prices at $70 in the first...