Gold Retreats from Three-Month High

Gold prices edged lower on Tuesday to around $4,622 per troy ounce after hitting their highest level in more than three months. Markets are awaiting Wednesday’s PCE inflation report and a speech by Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium on Friday.

Spot gold fell 0.6% to $4,622.01 per ounce after briefly reaching $4,696.18 earlier in the session, its highest level since 14 May. US gold futures for December delivery fell 0.4%.

Other precious metals also declined. Silver fell 1.7% to $67.76 per ounce, platinum dropped 2% to $1,837.94 and palladium lost 2.8% to $1,319.50.

(Reuters, max)