Gold falls to a week low before US inflation data.

The gold prices They fell to a low of a week on Friday ahead of the publication of the US Consumer Price Index in November, as some investors expect that a high inflation figure could lead the Federal Reserve to initiate the reduction of stimulus and rate hikes ahead of schedule.

At 09:41 GMT, spot gold was down 0.2% at $ 1,770.90. Gold futures in the United States fell 0.3% to $ 1,771.10.

“The focus is on inflation data and if we get strong data then the dollar should appreciate, bond yields should go up, maybe equity markets could go up as well, but the price of gold will probably fall in response.”Said Commerzbank analyst Daniel Briesemann.

There are expectations that the November figure could be higher than 6.8% and will surely increase the pressure on the US central bank to conclude earlier the reduction of stimuli and start raising rates, Briesemann added.

The bullion is headed for its fourth weekly decline, on investor caution ahead of the release of the US Consumer Price Index at 13:30 GMT and the Fed’s monetary policy meeting next week. .

Among other precious metals, silver was down 0.3% to $ 21.87 an ounce, platinum was up 1% to $ 943.69 and palladium was down 1.5% to $ 1,784.68.

With information from Reuters.