Gold prices dipped on Monday, nearing their lowest level in a month as easing global geopolitical tensions reduced demand for the metal’s safe-haven appeal.
Spot gold fell 0.3% to $2,315.29 per ounce, after earlier hitting its lowest since June 7. U.S. gold futures dropped 0.4% to $2,323.40.
The decline comes as investors await key U.S. inflation data later this week, which could influence the Federal Reserve’s future rate-cut decisions.
Market analysts say that improving investor sentiment and declining global tensions have weakened the appeal of gold, while a stronger U.S. dollar continues to weigh on prices.
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