XAU/USD falls 0.52% to $4,386 after reaching a two-month high of $4,449 earlier in the session.
Gold (XAU/USD) retreated from a two-month high on Thursday, paring all gains from the previous session as traders awaited US producer price index data. The precious metal, which hit $4,449 during Asian trading, slipped 0.52% to $4,386 at the latest check.
The pullback follows a sharp rally earlier in the week, driven by expectations of Federal Reserve rate cuts. Analysts noted that Thursday’s PPI release could influence market sentiment, with higher-than-expected inflation potentially dampening rate cut bets.
No immediate market reaction was reported beyond the price decline, though volatility may rise pending the data.