Gold prices weakened on Thursday (September 11th) after hitting a new record earlier this week. Selling pressure emerged as the US dollar strengthened and bond yields rose, reducing the precious metal's appeal as a hedge. Investors tended to take profits ahead of the release of US consumer inflation data, which could determine the direction of the Fed's interest rate policy.

Despite the correction, the medium-term outlook for gold remains relatively positive, especially if the US central bank signals a more aggressive interest rate cut at its upcoming meeting. Global geopolitical uncertainty also remains a supporting factor for gold's demand as a safe-haven asset. However, in the short term, precious metal prices could face higher volatility following the dynamics of the foreign exchange and bond markets.

Source: Newsmaker.id