Gold prices saw a slight decline in the global market on Thursday, although softer US inflation data provided support to the precious metal.
A day earlier, gold had reached its highest level in over two months. spot gold was recorded at $4,407.78 per ounce, down 0.02%. According to analysts, relatively soft US inflation figures have eased pressure on the Federal Reserve to raise interest rates in the near term, which helped support gold prices.
Rupee beats dollar again as price falls further Among other precious metals, silver rose 0.3% to $65.47 per ounce. In contrast, platinum fell 0.4% to $1,749.70 per ounce, while palladium dropped 0.5% to $1,362.10 per ounce.
On Wednesday, gold had posted a gain of nearly 0.9%, pushing it to around $4,450 per ounce its highest level in more than two months before witnessing some decline later.
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