Doha: Gold prices eased on Wednesday: Gold prices experienced a decrease, reversing a three-session winning streak as market participants turned their attention towards the upcoming US inflation data, anticipated later today. This data is crucial for gaining insights into the Federal Reserve's perspective on potential interest rate adjustments.

According to Qatar News Agency, spot gold saw a decline of 0.6 percent, settling at USD 4,626.79 per ounce. This drop comes after gold prices reached their highest level since mid-May just the day before. Alongside spot gold, US gold futures also experienced a decrease, falling by 0.2 percent to USD 4,683.60.

In contrast to gold, other precious metals showed modest gains. Spot silver increased by 0.2 percent, reaching USD 68.75 per ounce. Platinum saw a rise of 0.3 percent, priced at USD 1,863.58, while palladium climbed by 0.7 percent, reaching USD 1,335.54 per ounce.