Gold futures declined Tuesday to settle at their lowest in three weeks as investors await Wednesday’s release of the U.S. consumer price index data. The reading holds significant importance ahead of the Federal Reserve’s policy meeting in September and may provide additional insights into the inflation scenario in the United States, “which could significantly impact investor expectations regarding the U.S. dollar and, consequently, gold trading,” said Rania Gule, market analyst at XS.com. December gold
GCZ23,
declined by $12.10, or 0.6%, to settle at $1,935.10 an ounce on Comex. Prices based on the most-active contract settled at their lowest since Aug. 22, according to Dow Jones Market Data.
